EverCommerce Inc. (NASDAQ:EVCM – Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 123,034 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 142,583 shares.The stock last traded at $11.7370 and had previously closed at $10.98.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on EVCM shares. Weiss Ratings downgraded EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered EverCommerce from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Canaccord Genuity Group raised their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 target price on shares of EverCommerce in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.25.
Read Our Latest Stock Report on EVCM
EverCommerce Stock Up 6.5%
EverCommerce (NASDAQ:EVCM – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.10). The business had revenue of $147.47 million for the quarter, compared to analysts’ expectations of $147.18 million. EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.EverCommerce’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Research analysts expect that EverCommerce Inc. will post 0.57 EPS for the current year.
Insider Activity
In related news, President Matthew David Feierstein sold 10,000 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $10.03, for a total transaction of $100,300.00. Following the completion of the sale, the president directly owned 2,045,448 shares of the company’s stock, valued at approximately $20,515,843.44. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 19,200 shares of the business’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $10.77, for a total value of $206,784.00. Following the completion of the transaction, the chief executive officer owned 5,660,251 shares in the company, valued at approximately $60,960,903.27. This trade represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 320,196 shares of company stock worth $3,378,167. Company insiders own 10.10% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC bought a new stake in shares of EverCommerce in the 2nd quarter worth about $2,716,000. Bank of America Corp DE raised its stake in EverCommerce by 202.9% during the first quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock valued at $547,000 after buying an additional 32,053 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in EverCommerce by 117.7% during the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock worth $552,000 after buying an additional 26,109 shares during the last quarter. XTX Topco Ltd lifted its holdings in EverCommerce by 110.4% during the 4th quarter. XTX Topco Ltd now owns 51,877 shares of the company’s stock worth $628,000 after buying an additional 27,224 shares during the last quarter. Finally, Barclays PLC grew its position in shares of EverCommerce by 5.1% in the 4th quarter. Barclays PLC now owns 22,854 shares of the company’s stock worth $277,000 after acquiring an additional 1,101 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.
About EverCommerce
EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.
The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.
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