EverCommerce (NASDAQ:EVCM) Trading Down 6.6% – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM) shares traded down 6.6% during mid-day trading on Thursday . The stock traded as low as $11.22 and last traded at $11.1950. 5,043 shares were traded during mid-day trading, a decline of 96% from the average session volume of 140,228 shares. The stock had previously closed at $11.99.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen raised EverCommerce from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Royal Bank Of Canada cut their target price on EverCommerce from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, March 13th. The Goldman Sachs Group cut their target price on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 13th. Weiss Ratings raised EverCommerce from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, March 13th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of EverCommerce in a research note on Friday, March 13th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.71.

EverCommerce Stock Down 1.1%

The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $11.40 and a two-hundred day simple moving average of $11.10. The stock has a market cap of $2.04 billion, a P/E ratio of 127.35, a P/E/G ratio of 2.58 and a beta of 1.01.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). EverCommerce had a net margin of 2.99% and a return on equity of 2.49%. The company had revenue of $151.15 million during the quarter, compared to the consensus estimate of $150.06 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that EverCommerce Inc. will post 0.23 EPS for the current year.

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 19,200 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $11.43, for a total transaction of $219,456.00. Following the completion of the transaction, the chief executive officer owned 2,592,997 shares in the company, valued at $29,637,955.71. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 301,745 shares of company stock worth $3,374,848 in the last ninety days. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in EVCM. Tudor Investment Corp ET AL raised its holdings in shares of EverCommerce by 200.7% during the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock valued at $1,397,000 after acquiring an additional 83,794 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of EverCommerce by 94.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock valued at $1,266,000 after acquiring an additional 50,854 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of EverCommerce by 5,995.2% during the second quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock valued at $523,000 after acquiring an additional 49,041 shares in the last quarter. Zacks Investment Management bought a new position in shares of EverCommerce during the third quarter valued at approximately $418,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of EverCommerce by 111.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock valued at $749,000 after acquiring an additional 34,979 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

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.