EverCommerce (NASDAQ:EVCM) Shares Gap Down – Here’s What Happened

EverCommerce Inc. (NASDAQ:EVCM) shares gapped down before the market opened on Monday . The stock had previously closed at $11.55, but opened at $11.05. EverCommerce shares last traded at $11.3970, with a volume of 24,901 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on EVCM shares. Zacks Research lowered shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Royal Bank Of Canada cut EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a research note on Monday. Barclays cut their price objective on EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Lake Street Capital set a $11.00 price target on shares of EverCommerce in a research note on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EverCommerce in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $11.00.

EverCommerce Stock Performance

The stock has a market capitalization of $2.12 billion, a P/E ratio of -1,183.82, a P/E/G ratio of 2.35 and a beta of 1.03. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average is $10.48 and its two-hundred day moving average is $10.86.

Insider Transactions at EverCommerce

In related news, 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 value of $120,451.80. Following the transaction, the insider owned 175,730 shares in the company, valued at approximately $2,509,424.40. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Matthew David Feierstein sold 10,921 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $10.03, for a total transaction of $109,537.63. Following the transaction, the president owned 2,100,919 shares in the company, valued at $21,072,217.57. This represents a 0.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 315,503 shares of company stock valued at $3,457,117 in the last three months. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVCM. Federated Hermes Inc. raised its stake in EverCommerce by 118.3% in the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after buying an additional 1,667 shares during the period. State of Alaska Department of Revenue acquired a new stake in EverCommerce during the third quarter worth about $91,000. R Squared Ltd acquired a new position in EverCommerce in the 3rd quarter worth about $122,000. 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 valued at $142,000 after acquiring an additional 1,190 shares during the last quarter. Finally, Inceptionr LLC acquired a new position in shares of EverCommerce in the 2nd quarter valued at about $159,000. 97.91% of the stock is owned by institutional investors and hedge funds.

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.