EverCommerce (NASDAQ:EVCM) Stock Price Down 3% on Insider Selling

EverCommerce Inc. (NASDAQ:EVCM)’s stock price traded down 3% on Friday following insider selling activity. The company traded as low as $9.39 and last traded at $9.39. 9,159 shares were traded during trading, a decline of 94% from the average session volume of 146,003 shares. The stock had previously closed at $9.68.

Specifically, Director Eric Richard Remer sold 26,530 shares of EverCommerce stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $9.78, for a total value of $259,463.40. Following the transaction, the director owned 5,434,803 shares in the company, valued at $53,152,373.34. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Richard Remer sold 20,913 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $10.17, for a total transaction of $212,685.21. Following the completion of the sale, the director directly owned 5,461,333 shares of the company’s stock, valued at $55,541,756.61. This represents a 0.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other news, CFO Ryan H. Siurek sold 3,188 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $10.16, for a total transaction of $32,390.08. Following the transaction, the chief financial officer directly owned 344,121 shares of the company’s stock, valued at approximately $3,496,269.36. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered EverCommerce from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Weiss Ratings cut EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada lowered their price objective on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $14.00 price objective on shares of EverCommerce in a research note on Friday, May 8th. Finally, 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 report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.00.

EverCommerce Trading Down 1.9%

The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.68 billion, a PE ratio of 52.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The stock’s fifty day moving average price is $10.43 and its two-hundred day moving average price is $10.76.

EverCommerce (NASDAQ:EVCM) 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 business had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. Sell-side analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Institutional Investors Weigh In On EverCommerce

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in shares of EverCommerce during the second quarter valued at approximately $125,000. BlackRock Inc. purchased a new stake in EverCommerce in the second quarter worth $10,724,000. Deutsche Bank AG purchased a new stake in EverCommerce in the second quarter worth $144,000. Bank of New York Mellon Corp bought a new stake in EverCommerce in the second quarter valued at $324,000. Finally, CoreCap Advisors LLC bought a new stake in EverCommerce in the second quarter valued at $2,716,000. 97.91% of the stock is currently owned by institutional investors.

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.