EverCommerce (NASDAQ:EVCM) Trading Down 5.9% Following Insider Selling

EverCommerce Inc. (NASDAQ:EVCM) dropped 5.9% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $12.60 and last traded at $12.6160. Approximately 70,374 shares changed hands during trading, a decline of 66% from the average daily volume of 206,097 shares. The stock had previously closed at $13.40.

Specifically, insider Lisa E. Storey sold 8,435 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $14.28, for a total transaction of $120,451.80. Following the completion of the sale, the insider directly owned 175,730 shares of the company’s stock, valued at approximately $2,509,424.40. This represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric Richard Remer sold 19,200 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $13.61, for a total transaction of $261,312.00. Following the completion of the transaction, the chief executive officer owned 2,809,935 shares of the company’s stock, valued at $38,243,215.35. This trade represents a 0.68% decrease in their position. The SEC filing for this sale provides additional information. In other news, CFO Ryan H. Siurek sold 8,300 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $12.34, for a total transaction of $102,422.00. Following the completion of the sale, the chief financial officer owned 227,037 shares of the company’s stock, valued at $2,801,636.58. This represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

EVCM has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a research note on Wednesday, October 8th. Barclays dropped their target price on EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Zacks Research downgraded EverCommerce from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Royal Bank Of Canada lowered their target price on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. Finally, Lake Street Capital set a $11.00 price target on shares of EverCommerce in a research report on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.00.

EverCommerce Trading Down 5.8%

The firm’s fifty day simple moving average is $10.30 and its 200 day simple moving average is $10.69. The stock has a market capitalization of $2.15 billion, a P/E ratio of -1,195.80, a price-to-earnings-growth ratio of 6.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.02 and a current ratio of 2.02.

Hedge Funds Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its position in shares of EverCommerce by 328.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock worth $7,502,000 after buying an additional 547,712 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of EverCommerce in the 2nd quarter valued at approximately $5,039,000. Tudor Investment Corp ET AL boosted its stake in shares of EverCommerce by 200.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock valued at $1,397,000 after purchasing an additional 83,794 shares in the last quarter. Squarepoint Ops LLC acquired a new position in EverCommerce during the 2nd quarter worth approximately $595,000. Finally, Lazard Asset Management LLC lifted its stake in EverCommerce by 5,995.2% in the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock valued at $523,000 after purchasing an additional 49,041 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

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.