EverCommerce (NASDAQ:EVCM) Shares Down 4.1% – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM) shares were down 4.1% on Wednesday. The stock traded as low as $6.79 and last traded at $6.75. 41,577 shares were traded during trading, a decline of 71% from the average session volume of 143,009 shares. The stock had previously closed at $7.04.

Wall Street Analyst Weigh In

Several research firms recently commented on EVCM. Barclays dropped their price objective on EverCommerce from $10.00 to $8.50 and set an “underweight” rating on the stock in a research note on Monday. Wall Street Zen upgraded EverCommerce from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings cut EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, November 3rd. Oppenheimer cut their price target on EverCommerce from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, November 6th. Finally, Royal Bank Of Canada cut their price target on EverCommerce from $10.00 to $7.00 and set a “sector perform” rating for the company in a research note on Friday, November 6th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $8.42.

EverCommerce Stock Down 6.0%

The stock has a fifty day simple moving average of $8.51 and a two-hundred day simple moving average of $10.20. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.72. The firm has a market cap of $1.16 billion, a PE ratio of 43.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.63.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.03 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 the consensus estimate of $152.91 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Eric Remer sold 47,353 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total value of $390,188.72. Following the transaction, the director owned 5,022,792 shares of the company’s stock, valued at $41,387,806.08. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 381,273 shares of company stock valued at $3,574,713. 10.10% of the stock is owned by insiders.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently modified their holdings of the company. Engineers Gate Manager LP lifted its position in EverCommerce by 16.7% in the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock worth $209,000 after buying an additional 2,982 shares during the last quarter. Ethic Inc. bought a new position in EverCommerce during the third quarter valued at approximately $88,000. Bank of America Corp DE bought a new position in EverCommerce during the second quarter valued at approximately $125,000. Deutsche Bank AG bought a new position in EverCommerce during the second quarter valued at approximately $144,000. Finally, Edgestream Partners L.P. purchased a new position in shares of EverCommerce during the third quarter worth approximately $153,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.