EverCommerce (NASDAQ:EVCM) CFO Sells 3,188 Shares

Key Points

• CFO insider sale: EverCommerce CFO Ryan Siurek sold 3,188 shares at an average price of $10.16, worth approximately $32,390. He retained 344,121 shares after the transaction.
• Quarterly results missed expectations: The company reported adjusted earnings of $0.05 per share, below the $0.15 consensus estimate, while revenue rose 2.7% year over year to $152.02 million.
• Stock and analyst outlook: Shares recently traded at $9.68, and analysts have an average “Hold” rating with an $11.00 consensus price target. Institutional investors own approximately 97.91% of the outstanding shares.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CFO Ryan Siurek sold 3,188 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $10.16, for a total transaction of $32,390.08. Following the sale, the chief financial officer directly owned 344,121 shares in the company, valued at $3,496,269.36. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

EverCommerce Price Performance

NASDAQ:EVCM traded down $0.43 during trading hours on Thursday, hitting $9.68. The stock had a trading volume of 116,099 shares, compared to its average volume of 146,864. The company has a 50 day simple moving average of $10.43 and a two-hundred day simple moving average of $10.77. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 53.78, a P/E/G ratio of 0.97 and a beta of 0.91. 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 one year low of $7.66 and a one year high of $14.41.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share 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 firm had revenue of $152.02 million during the quarter, compared to the consensus estimate of $152.29 million. During the same period in the previous year, the company posted $0.04 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts forecast that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EVCM. Barclays raised their price target on EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $14.00 price objective on shares of EverCommerce in a research report on Friday, May 8th. Royal Bank Of Canada lowered their price objective on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 14th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, EverCommerce currently has an average rating of "Hold" and a consensus target price of $11.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EVCM. Barclays PLC raised its stake in shares of EverCommerce by 5.1% during the fourth quarter. Barclays PLC now owns 22,854 shares of the company's stock worth $277,000 after acquiring an additional 1,101 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock valued at $142,000 after purchasing an additional 1,190 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of EverCommerce by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company's stock valued at $290,000 after purchasing an additional 4,576 shares during the last quarter. Wells Fargo & Company MN raised its position in EverCommerce by 76.8% in the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company's stock worth $198,000 after purchasing an additional 7,085 shares during the period. 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 worth $1,107,000 after purchasing an additional 11,996 shares during the period. 97.91% of the stock is currently 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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