EverCommerce (NASDAQ:EVCM) Director Richard Simonson Sells 77,465 Shares of Stock

EverCommerce Inc. (NASDAQ:EVCM) Director Richard Simonson sold 77,465 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $7.10, for a total value of $550,001.50. Following the completion of the transaction, the director owned 22,346 shares in the company, valued at approximately $158,656.60. This trade represents a 77.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

EverCommerce Price Performance

Shares of NASDAQ:EVCM traded up $0.10 during trading on Thursday, reaching $6.98. The stock had a trading volume of 112,289 shares, compared to its average volume of 143,426. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.13 and a current ratio of 2.13. EverCommerce Inc. has a 1-year low of $6.01 and a 1-year high of $14.41. The stock has a market cap of $1.23 billion, a PE ratio of 46.54, a PEG ratio of 0.87 and a beta of 0.63. The business has a fifty day moving average price of $8.48 and a 200-day moving average price of $10.17.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.13). EverCommerce had a net margin of 4.81% and a return on equity of 4.00%. The firm had revenue of $151.45 million during the quarter, compared to analyst estimates of $152.91 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EVCM shares. Wall Street Zen raised shares of EverCommerce from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. Deutsche Bank cut shares of EverCommerce from a “buy” rating to a “hold” rating and dropped their price objective for the company from $12.00 to $7.00 in a research note on Friday, November 6th. Royal Bank Of Canada cut their price objective on shares of EverCommerce from $10.00 to $7.00 and set a “sector perform” rating for the company in a report on Friday, November 6th. Canaccord Genuity Group decreased their target price on shares of EverCommerce from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Finally, Barclays decreased their target price on shares of EverCommerce from $10.00 to $8.50 and set an “underweight” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $8.42.

Hedge Funds Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVCM. Edgestream Partners L.P. purchased a new stake in EverCommerce in the 3rd quarter valued at $153,000. Ethic Inc. purchased a new position in shares of EverCommerce during the 3rd quarter worth $88,000. Black Diamond Financial LLC purchased a new position in shares of EverCommerce during the 3rd quarter worth $2,464,000. Engineers Gate Manager LP boosted its position in shares of EverCommerce by 16.7% during the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after acquiring an additional 2,982 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of EverCommerce during the 2nd quarter valued at about $125,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

About EverCommerce

EverCommerce is a software company that provides cloud-based tools for service businesses. Its platform combines vertical software with integrated payments and other services to help companies manage operations and customer relationships. Its products support functions such as business management, scheduling, customer engagement, marketing, and payment processing. EverCommerce serves businesses across industries including home services, health and wellness, fitness, education, and professional services.