Lisa Storey Sells 1,228 Shares of EverCommerce (NASDAQ:EVCM) Stock

Key Points

• Insider Lisa Storey sold 1,228 EverCommerce shares for approximately $11,838 to cover tax withholding related to vested equity awards, reducing her position by 0.55% to 221,358 shares.
• EverCommerce shares fell 0.9% to $9.55, while the company’s latest quarterly earnings missed analyst expectations: adjusted EPS was $0.05 versus the $0.15 consensus estimate, though revenue increased 2.7% year over year.
• Analysts maintain a generally cautious outlook, with an average “Hold” rating and an $11 price target; institutional investors and hedge funds own 97.91% of the company.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) insider Lisa Storey sold 1,228 shares of the stock in a transaction on Saturday, August 22nd. The stock was sold at an average price of $9.64, for a total value of $11,837.92. Following the transaction, the insider directly owned 221,358 shares in the company, valued at approximately $2,133,891.12. This represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

EverCommerce Trading Down 0.9%

Shares of NASDAQ:EVCM traded down $0.09 during midday trading on Monday, reaching $9.55. The company's stock had a trading volume of 82,111 shares, compared to its average volume of 146,042. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 53.06, a price-to-earnings-growth ratio of 0.94 and a beta of 0.91. The business has a 50 day moving average price of $10.44 and a 200 day moving average price of $10.74. EverCommerce Inc. has a 1 year low of $7.66 and a 1 year high of $14.41. The company has a quick ratio of 2.14, a current 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 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.10). The business had revenue of $152.02 million for the quarter, compared to analysts' expectations of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 earnings per share. Research analysts forecast that EverCommerce Inc. will post 0.52 EPS for the current year.

Hedge Funds Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently modified their holdings of EVCM. California State Teachers Retirement System grew its holdings in shares of EverCommerce by 149.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company's stock worth $197,000 after purchasing an additional 1,187 shares during the period. Bank of America Corp DE purchased a new position in EverCommerce in the second quarter valued at approximately $125,000. BlackRock Inc. purchased a new position in EverCommerce in the second quarter valued at approximately $10,724,000. Deutsche Bank AG purchased a new position in EverCommerce in the second quarter valued at approximately $144,000. Finally, Bank of New York Mellon Corp acquired a new position in EverCommerce during the second quarter valued at approximately $324,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on EVCM. Royal Bank Of Canada decreased their target price 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 lowered shares of EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. Barclays increased their price target on shares of EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a research note on Thursday, August 6th. 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. Finally, Wall Street Zen downgraded EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, EverCommerce has an average rating of "Hold" and an average price target of $11.00.

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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