EverCommerce (NASDAQ:EVCM) Stock Price Down 5.7% – What’s Next?

EverCommerce Inc. (NASDAQ:EVCM) dropped 5.7% during trading on Friday . The company traded as low as $11.55 and last traded at $11.4250. Approximately 23,675 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 206,601 shares. The stock had previously closed at $12.11.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EVCM shares. Royal Bank Of Canada cut their price objective on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Zacks Research downgraded shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Lake Street Capital set a $11.00 price target on shares of EverCommerce in a research report on Tuesday, October 14th. Barclays decreased their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, EverCommerce currently has an average rating of “Hold” and an average price target of $11.00.

EverCommerce Stock Performance

The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $2.03 billion, a P/E ratio of -1,131.67, a price-to-earnings-growth ratio of 6.10 and a beta of 1.03. The company’s 50 day moving average is $10.48 and its 200-day moving average is $10.83.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 32,706 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $9.87, for a total transaction of $322,808.22. Following the completion of the sale, the chief executive officer owned 2,833,139 shares in the company, valued at $27,963,081.93. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Matthew David Feierstein sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $11.38, for a total value of $284,500.00. Following the transaction, the president directly owned 2,148,295 shares in the company, valued at $24,447,597.10. The trade was a 1.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 315,503 shares of company stock worth $3,457,117 in the last three months. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of EverCommerce during the first quarter worth about $493,000. Woodline Partners LP lifted its holdings in shares of EverCommerce by 4.7% in the first quarter. Woodline Partners LP now owns 560,506 shares of the company’s stock valued at $5,650,000 after purchasing an additional 25,412 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of EverCommerce during the second quarter valued at approximately $5,039,000. Los Angeles Capital Management LLC grew its holdings in EverCommerce by 136.9% during the second quarter. Los Angeles Capital Management LLC now owns 82,142 shares of the company’s stock worth $862,000 after buying an additional 47,470 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in EverCommerce by 11.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after buying an additional 11,996 shares during the last quarter. 97.91% of the stock is 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.