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

EverCommerce Inc. (NASDAQ:EVCM) shares were down 6.3% during trading on Tuesday following insider selling activity. The stock traded as low as $8.40 and last traded at $8.3150. 78,804 shares traded hands during mid-day 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 that occurred 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 completion of the transaction, the director directly owned 5,022,792 shares in the company, valued at approximately $41,387,806.08. The trade was a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $8.91, for a total transaction of $364,472.46. Following the sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In other EverCommerce news, Director Eric Richard Remer sold 23,824 shares of EverCommerce stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $9.21, for a total value of $219,419.04. Following the transaction, the director owned 5,323,278 shares of the company’s stock, valued at approximately $49,027,390.38. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

EVCM has been the subject of several research reports. Royal Bank Of Canada lowered their price objective on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, August 6th. Barclays boosted their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Canaccord Genuity Group upped their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen cut EverCommerce from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of EverCommerce in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.00.

EverCommerce Stock Down 1.7%

The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.40 billion, a P/E ratio of 44.06, a PEG ratio of 0.79 and a beta of 0.84. The firm’s 50 day moving average price is $10.44 and its two-hundred day moving average price is $10.65.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The business had revenue of $152.02 million during the quarter, compared to the consensus estimate of $152.29 million. During the same period in the prior year, the firm earned $0.04 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast that EverCommerce Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in shares of EverCommerce during the 2nd quarter worth about $125,000. Prudential Financial Inc. increased its position in shares of 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. Deutsche Bank AG acquired a new stake in shares of EverCommerce in the second quarter valued at about $144,000. Oxford Asset Management LLP bought a new stake in EverCommerce during the second quarter worth about $168,000. Finally, BNP Paribas Financial Markets raised its holdings in EverCommerce by 863.2% during the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock worth $171,000 after acquiring an additional 13,734 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

About EverCommerce

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.