EverCommerce (NASDAQ:EVCM) CFO Ryan Siurek Sells 16,812 Shares of Stock

Key Points

• EverCommerce CFO Ryan Siurek sold 16,812 shares at an average price of $10.21, totaling $171,650.52. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct holdings by 4.62%.
• EverCommerce shares fell 1.8% to $9.98 in mid-day trading. The company recently reported quarterly EPS of $0.05, missing the $0.15 consensus estimate, while revenue rose 2.7% year over year to $152.02 million.
• Analysts collectively rate the stock “Hold”, with an average price target of $11.00; institutional investors own 97.91% of the company’s shares.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CFO Ryan Siurek sold 16,812 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $10.21, for a total value of $171,650.52. Following the completion of the sale, the chief financial officer directly owned 347,309 shares of the company's stock, valued at $3,546,024.89. The trade was a 4.62% 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.

EverCommerce Trading Down 1.8%

EverCommerce stock traded down $0.18 during mid-day trading on Tuesday, reaching $9.98. 112,529 shares of the company traded hands, compared to its average volume of 147,028. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. EverCommerce Inc. has a 52-week low of $7.66 and a 52-week high of $14.41. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 55.44, a P/E/G ratio of 0.99 and a beta of 0.91. The firm's 50 day moving average price is $10.39 and its 200 day moving average price is $10.80.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The company had revenue of $152.02 million during the quarter, compared to analysts' expectations of $152.29 million. During the same period in the prior year, the business posted $0.04 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EVCM has been the subject of several research reports. Canaccord Genuity Group increased their target price on EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Barclays lifted their price target on EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a research report on Thursday, August 6th. Weiss Ratings cut EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $14.00 price objective on shares of EverCommerce in a research report on Friday, May 8th. Finally, Royal Bank Of Canada dropped their target price on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, EverCommerce currently has an average rating of "Hold" and an average target price of $11.00.

Institutional Trading of EverCommerce

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in EverCommerce by 11.9% during 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 in the last quarter. American Century Companies Inc. grew its stake in shares of EverCommerce by 19.8% in the second quarter. American Century Companies Inc. now owns 27,649 shares of the company's stock worth $290,000 after acquiring an additional 4,576 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after acquiring an additional 1,190 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of EverCommerce during the second quarter valued at $302,000. Finally, Lazard Asset Management LLC raised its position in shares of EverCommerce by 5,995.2% in the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company's stock worth $523,000 after purchasing an additional 49,041 shares during 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.

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