Insider Selling: EverCommerce (NASDAQ:EVCM) Director Sells $550,001.50 in Stock

EverCommerce Inc. (NASDAQ:EVCM) Director Richard Simonson sold 77,465 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $7.10, for a total value of $550,001.50. Following the completion of the sale, the director owned 22,346 shares in the company, valued at approximately $158,656.60. This represents a 77.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

EverCommerce Stock Performance

Shares of NASDAQ:EVCM traded up $0.10 during trading on Thursday, hitting $6.98. 112,289 shares of the stock traded hands, compared to its average volume of 143,426. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 46.54, a P/E/G ratio of 0.87 and a beta of 0.63. The company has a fifty day moving average price of $8.48 and a two-hundred day moving average price of $10.17. EverCommerce Inc. has a 52-week low of $6.01 and a 52-week high of $14.41.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Thursday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.13). EverCommerce had a net margin of 4.81% and a return on equity of 4.00%. The firm had revenue of $151.45 million during the quarter, compared to analyst estimates of $152.91 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts predict that EverCommerce Inc. will post 0.52 EPS for the current year.

Hedge Funds Weigh In On EverCommerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of EverCommerce during the second quarter worth about $10,724,000. Black Diamond Financial LLC acquired a new position in shares of EverCommerce during the 3rd quarter worth about $2,464,000. CoreCap Advisors LLC purchased a new position in EverCommerce in the 2nd quarter valued at about $2,716,000. Bank of New York Mellon Corp purchased a new position in EverCommerce in the 2nd quarter valued at about $324,000. Finally, Bank of America Corp DE boosted its holdings in EverCommerce by 202.9% in the 1st quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock worth $547,000 after buying an additional 32,053 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EVCM has been the topic of a number of analyst reports. Canaccord Genuity Group dropped their target price on EverCommerce from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Barclays reduced their price target on EverCommerce from $10.00 to $8.50 and set an “underweight” rating for the company in a report on Monday. Wall Street Zen upgraded EverCommerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Deutsche Bank downgraded EverCommerce from a “buy” rating to a “hold” rating and lowered their price target for the stock from $12.00 to $7.00 in a research report on Friday, November 6th. Finally, Oppenheimer dropped their price objective on EverCommerce from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, November 6th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, EverCommerce currently has a consensus rating of “Reduce” and an average price target of $8.42.

EverCommerce Company Profile

EverCommerce is a software company that provides cloud-based tools for service businesses. Its platform combines vertical software with integrated payments and other services to help companies manage operations and customer relationships. Its products support functions such as business management, scheduling, customer engagement, marketing, and payment processing. EverCommerce serves businesses across industries including home services, health and wellness, fitness, education, and professional services.