EverCommerce (NASDAQ:EVCM) President Sells $112,600.00 in Stock

Key Points

• EverCommerce President Matthew David Feierstein sold 10,000 shares on June 1 at an average price of $11.26, totaling $112,600. The sale was made under a pre-arranged Rule 10b5-1 plan and to cover tax withholding tied to equity award vesting.
• The stock traded sharply lower, falling 7.8% to $9.43 in Wednesday trading, below both its 50-day and 200-day moving averages.
• Recent earnings came in below expectations, with EverCommerce reporting $0.04 EPS versus the $0.14 consensus estimate, while revenue of $147.47 million slightly beat forecasts and rose 3.7% year over year.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) President Matthew David Feierstein sold 10,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $11.26, for a total transaction of $112,600.00. Following the transaction, the president directly owned 2,106,254 shares of the company's stock, valued at approximately $23,716,420.04. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Matthew David Feierstein also recently made the following trade(s):

• On Wednesday, June 3rd, Matthew David Feierstein sold 1,052 shares of EverCommerce stock. The shares were sold at an average price of $10.05, for a total transaction of $10,572.60.
• On Wednesday, May 6th, Matthew David Feierstein sold 5,000 shares of EverCommerce stock. The shares were sold at an average price of $10.83, for a total transaction of $54,150.00.
• On Monday, May 4th, Matthew David Feierstein sold 10,000 shares of EverCommerce stock. The stock was sold at an average price of $11.87, for a total value of $118,700.00.
• On Friday, May 1st, Matthew David Feierstein sold 10,000 shares of EverCommerce stock. The stock was sold at an average price of $11.94, for a total value of $119,400.00.
• On Tuesday, April 7th, Matthew David Feierstein sold 5,000 shares of EverCommerce stock. The stock was sold at an average price of $11.40, for a total value of $57,000.00.
• On Monday, April 6th, Matthew David Feierstein sold 10,000 shares of EverCommerce stock. The stock was sold at an average price of $11.90, for a total value of $119,000.00.
• On Wednesday, April 1st, Matthew David Feierstein sold 10,000 shares of EverCommerce stock. The stock was sold at an average price of $11.43, for a total value of $114,300.00.
• On Thursday, March 5th, Matthew David Feierstein sold 5,000 shares of EverCommerce stock. The stock was sold at an average price of $12.17, for a total value of $60,850.00.

EverCommerce Trading Down 7.8%

Shares of NASDAQ:EVCM traded down $0.80 during trading on Wednesday, reaching $9.43. 189,208 shares of the stock were exchanged, compared to its average volume of 136,379. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.08 and a current ratio of 2.08. EverCommerce Inc. has a 12-month low of $7.66 and a 12-month high of $14.41. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 55.47, a price-to-earnings-growth ratio of 2.39 and a beta of 0.92. The firm's 50-day moving average price is $11.23 and its 200 day moving average price is $11.04.

EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.10). EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.The firm had revenue of $147.47 million for the quarter, compared to analysts' expectations of $147.18 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that EverCommerce Inc. will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EverCommerce

Institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. raised its position in shares of EverCommerce by 118.3% in the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company's stock valued at $34,000 after purchasing an additional 1,667 shares in the last quarter. R Squared Ltd acquired a new position in shares of EverCommerce in the 3rd quarter valued at approximately $122,000. Prudential Financial Inc. raised its position 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. O Shaughnessy Asset Management LLC acquired a new position in shares of EverCommerce in the 4th quarter valued at approximately $177,000. Finally, BNP Paribas Financial Markets raised its position in shares of EverCommerce by 863.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock valued at $171,000 after purchasing an additional 13,734 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citizens Jmp cut EverCommerce from an "outperform" rating to a "market perform" rating in a report on Friday, March 13th. The Goldman Sachs Group decreased their price target on EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday, March 13th. Weiss Ratings cut EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Canaccord Genuity Group upped their price target on EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada decreased their price target on EverCommerce from $12.00 to $11.00 and set a "sector perform" rating for the company in a report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $11.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.