EverCommerce (NASDAQ:EVCM) Shares Down 3% on Insider Selling

Key Points

• EverCommerce shares fell 3% to $9.39 after insider selling, with trading volume down 94% from the average. Director Eric Richard Remer sold 47,443 shares across two transactions, while CFO Ryan H. Siurek sold 3,188 shares.
• Analysts have a consensus “Hold” rating and an $11.00 price target, with three Buy, five Hold, and two Sell recommendations.
• EverCommerce’s latest quarterly EPS of $0.05 missed estimates of $0.15, although revenue rose 2.7% year over year to $152.02 million. Institutional investors own 97.91% of the company’s shares.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) shares traded down 3% during trading on Friday after an insider sold shares in the company. The company traded as low as $9.39 and last traded at $9.39. Approximately 9,159 shares traded hands during trading, a decline of 94% from the average daily volume of 146,003 shares. The stock had previously closed at $9.68.

Specifically, Director Eric Richard Remer sold 26,530 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $9.78, for a total value of $259,463.40. Following the sale, the director directly owned 5,434,803 shares in the company, valued at $53,152,373.34. This represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric Richard Remer sold 20,913 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $10.17, for a total transaction of $212,685.21. Following the transaction, the director owned 5,461,333 shares of the company's stock, valued at $55,541,756.61. This trade represents a 0.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other news, CFO Ryan H. Siurek sold 3,188 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $10.16, for a total value of $32,390.08. Following the transaction, the chief financial officer owned 344,121 shares of the company's stock, valued at approximately $3,496,269.36. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

EVCM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $14.00 price objective on shares of EverCommerce in a research note on Friday, May 8th. Wall Street Zen lowered EverCommerce from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Canaccord Genuity Group raised their price target on EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a 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. Finally, Weiss Ratings lowered EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $11.00.

EverCommerce Price Performance

The business's fifty day moving average price is $10.43 and its 200-day moving average price is $10.76. The company has a market capitalization of $1.68 billion, a P/E ratio of 52.78, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.10). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. 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 prior year, the company earned $0.04 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EverCommerce

Institutional investors have recently modified their holdings of the company. CoreCap Advisors LLC purchased a new stake in EverCommerce in the second quarter worth approximately $2,716,000. Barclays PLC grew its position in EverCommerce by 5.1% during the fourth quarter. Barclays PLC now owns 22,854 shares of the company's stock valued at $277,000 after acquiring an additional 1,101 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of EverCommerce by 76.8% during the fourth quarter. Wells Fargo & Company MN now owns 16,311 shares of the company's stock worth $198,000 after acquiring an additional 7,085 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of EverCommerce during the fourth quarter worth approximately $177,000. Finally, BNP Paribas Financial Markets lifted its holdings 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 worth $171,000 after acquiring an additional 13,734 shares during the last quarter. 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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