EverCommerce (NASDAQ:EVCM) Trading Down 6.3% Following Insider Selling

EverCommerce Inc. (NASDAQ:EVCMGet Free Report) fell 6.3% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $8.40 and last traded at $8.3150. Approximately 78,804 shares traded hands during trading, a decline of 46% from the average daily volume of 144,909 shares. The stock had previously closed at $8.87.

Specifically, Director Eric Richard Remer sold 47,353 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.24, for a total value of $390,188.72. Following the transaction, the director owned 5,022,792 shares of the company’s stock, valued at approximately $41,387,806.08. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eric Richard Remer sold 40,906 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $8.91, for a total transaction of $364,472.46. Following the completion of the transaction, the director directly owned 5,070,145 shares in the company, valued at $45,174,991.95. This trade represents a 0.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other news, Director Eric Richard Remer sold 23,824 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $9.21, for a total transaction of $219,419.04. Following the completion of the transaction, the director directly owned 5,323,278 shares of the company’s stock, valued at $49,027,390.38. This represents a 0.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analysts Set New Price Targets

EVCM has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of EverCommerce in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 target price on shares of EverCommerce in a research note on Friday, May 8th. Wall Street Zen lowered shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Barclays lifted their price target on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group increased their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

Check Out Our Latest Analysis on EverCommerce

EverCommerce Stock Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The business has a 50 day moving average price of $10.44 and a two-hundred day moving average price of $10.65. The company has a market cap of $1.40 billion, a P/E ratio of 44.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

EverCommerce (NASDAQ:EVCMGet Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The firm had revenue of $152.02 million during the quarter, compared to the consensus estimate of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.EverCommerce’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. On average, sell-side analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its position in EverCommerce by 149.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company’s stock valued at $197,000 after buying an additional 1,187 shares in the last quarter. Bank of America Corp DE bought a new stake in EverCommerce in the second quarter worth $125,000. Prudential Financial Inc. boosted its holdings in EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after acquiring an additional 1,190 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of EverCommerce in the second quarter worth $144,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of EverCommerce during the fourth quarter valued at $177,000. 97.91% of the stock is currently owned by institutional investors.

EverCommerce Company Profile

(Get Free Report)

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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