EverCommerce (NASDAQ:EVCM) Hits New 52-Week Low After Insider Selling

EverCommerce Inc. (NASDAQ:EVCM)’s share price hit a new 52-week low on Saturday following insider selling activity. The company traded as low as $8.10 and last traded at $9.36, with a volume of 386698 shares trading hands. The stock had previously closed at $8.95.

Specifically, CEO Eric Richard Remer sold 10,117 shares of EverCommerce stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $9.05, for a total value of $91,558.85. Following the completion of the transaction, the chief executive officer now owns 7,686,872 shares in the company, valued at approximately $69,566,191.60. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Richard Remer sold 9,404 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.06, for a total transaction of $85,200.24. Following the completion of the sale, the chief executive officer now directly owns 7,707,226 shares in the company, valued at approximately $69,827,467.56. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EVCM. Jefferies Financial Group cut their target price on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday. Royal Bank of Canada lowered their price objective on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday. Oppenheimer decreased their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group reduced their target price on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday. Finally, Barclays cut their price target on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.27.

EverCommerce Stock Up 4.6 %

The company has a market cap of $1.72 billion, a PE ratio of -33.43 and a beta of 1.12. The firm has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $10.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) EPS. Research analysts anticipate that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its stake in EverCommerce by 305.6% in the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after buying an additional 22,360 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after acquiring an additional 63,139 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in EverCommerce in the third quarter valued at approximately $536,000. Janus Henderson Group PLC increased its position in EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after purchasing an additional 3,837 shares during the last quarter. Finally, State Street Corp raised its stake in EverCommerce by 2.4% during the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after purchasing an additional 12,156 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

About EverCommerce

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.