EverCommerce (NASDAQ:EVCM) Shares Gap Up - Should You Buy?

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $9.98, but opened at $10.56. EverCommerce shares last traded at $10.05, with a volume of 11,355 shares changing hands.

Wall Street Analysts Forecast Growth

EVCM has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on EverCommerce from $12.00 to $14.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Barclays raised their price objective on EverCommerce from $9.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Piper Sandler raised their price objective on EverCommerce from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Oppenheimer raised their price objective on EverCommerce from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, JMP Securities boosted their price objective on EverCommerce from $12.00 to $15.00 and gave the company a "market outperform" rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.56.

EverCommerce Stock Down 1.9 %

The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -34.75 and a beta of 1.13. The business has a fifty day moving average of $10.50 and a 200 day moving average of $10.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81.

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Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 4,464 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $12.06, for a total transaction of $53,835.84. Following the transaction, the chief executive officer now directly owns 7,921,059 shares in the company, valued at $95,527,971.54. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Matthew David Feierstein sold 7,455 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $12.06, for a total value of $89,907.30. Following the transaction, the president now owns 2,239,169 shares in the company, valued at $27,004,378.14. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,074 shares of company stock worth $2,054,927. Insiders own 11.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Woodline Partners LP lifted its stake in EverCommerce by 24.8% during the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company's stock worth $5,891,000 after purchasing an additional 106,359 shares in the last quarter. State Street Corp lifted its stake in EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company's stock worth $5,335,000 after purchasing an additional 12,156 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of EverCommerce by 34.6% during the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company's stock worth $4,716,000 after acquiring an additional 110,183 shares during the period. Northern Trust Corp increased its position in shares of EverCommerce by 4.2% during the fourth quarter. Northern Trust Corp now owns 199,283 shares of the company's stock worth $2,194,000 after acquiring an additional 7,954 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of EverCommerce by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company's stock worth $1,856,000 after acquiring an additional 1,092 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company's solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.