Insider Selling: EverCommerce Inc. (NASDAQ:EVCM) Insider Sells 9,574 Shares of Stock

EverCommerce Inc. (NASDAQ:EVCM) insider Lisa E. Storey sold 9,574 shares of EverCommerce stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $11.23, for a total transaction of $107,516.02. Following the sale, the insider now owns 214,593 shares in the company, valued at $2,409,879.39. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

EverCommerce Trading Down 0.5%

Shares of EverCommerce stock opened at $10.66 on Friday. EverCommerce Inc. has a 52-week low of $8.10 and a 52-week high of $12.35. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The company’s 50-day simple moving average is $10.07 and its 200-day simple moving average is $10.62. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -38.07 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm had revenue of $142.27 million for the quarter, compared to analyst estimates of $146.28 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The company’s revenue was down 16.3% compared to the same quarter last year. As a group, equities research analysts anticipate that EverCommerce Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EVCM shares. Barclays lifted their price target on shares of EverCommerce from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday. Jefferies Financial Group cut their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, March 14th. Canaccord Genuity Group lifted their price target on shares of EverCommerce from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group dropped their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 14th. Finally, Piper Sandler dropped their price objective on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of EverCommerce by 48.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,010 shares of the company’s stock worth $1,695,000 after acquiring an additional 49,745 shares during the period. Raymond James Financial Inc. acquired a new position in shares of EverCommerce during the fourth quarter worth about $694,000. Charles Schwab Investment Management Inc. boosted its holdings in EverCommerce by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock worth $1,856,000 after buying an additional 1,092 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in EverCommerce by 84.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock worth $1,468,000 after buying an additional 61,144 shares in the last quarter. Finally, Barclays PLC boosted its holdings in EverCommerce by 305.6% during the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after buying an additional 22,360 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.