EverCommerce (NASDAQ:EVCM) Sets New 12-Month Low After Insider Selling

EverCommerce Inc. (NASDAQ:EVCM) shares reached a new 52-week low during trading on Saturday after an insider sold shares in the company. The company traded as low as $8.10 and last traded at $9.36, with a volume of 386698 shares changing hands. The stock had previously closed at $8.95.

Specifically, CEO Eric Richard Remer sold 10,117 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $9.05, for a total value of $91,558.85. Following the transaction, the chief executive officer now owns 7,686,872 shares in the company, valued at approximately $69,566,191.60. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric Richard Remer sold 9,404 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $9.06, for a total transaction of $85,200.24. Following the completion of the transaction, the chief executive officer now directly owns 7,707,226 shares in the company, valued at approximately $69,827,467.56. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Oppenheimer lowered their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday. The Goldman Sachs Group reduced their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday. Royal Bank of Canada decreased their price target on EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday. Barclays dropped their price objective on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group decreased their target price on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.27.

EverCommerce Trading Up 4.6 %

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The business’s 50 day moving average price is $10.17 and its 200-day moving average price is $10.71. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -33.43 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM) last released its earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. During the same period in the prior year, the business earned ($0.12) EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts expect that EverCommerce Inc. will post -0.17 EPS for the current year.

Institutional Trading of EverCommerce

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of EverCommerce in the 4th quarter worth about $29,000. Tower Research Capital LLC TRC boosted its stake in EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after acquiring an additional 2,040 shares during the period. Deutsche Bank AG boosted its stake in EverCommerce by 919.0% in the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock valued at $45,000 after acquiring an additional 3,667 shares during the period. Wells Fargo & Company MN grew its holdings in shares of EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after purchasing an additional 3,106 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of EverCommerce during the 4th quarter worth approximately $119,000. Institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.