EverCommerce (NASDAQ:EVCM) Shares Gap Down Following Insider Selling

EverCommerce Inc. (NASDAQ:EVCM)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $12.00, but opened at $11.28. EverCommerce shares last traded at $11.44, with a volume of 13,441 shares changing hands.

Specifically, CEO Eric Richard Remer sold 5,503 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $11.55, for a total transaction of $63,559.65. Following the completion of the sale, the chief executive officer owned 2,934,123 shares in the company, valued at $33,889,120.65. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 5,443 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $11.99, for a total transaction of $65,261.57. Following the sale, the chief executive officer owned 2,939,626 shares of the company’s stock, valued at approximately $35,246,115.74. The trade was a 0.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other EverCommerce news, CEO Eric Richard Remer sold 8,254 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $12.11, for a total transaction of $99,955.94. Following the completion of the sale, the chief executive officer owned 2,945,069 shares in the company, valued at $35,664,785.59. The trade was a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EVCM shares. Oppenheimer reiterated an “outperform” rating on shares of EverCommerce in a research note on Friday, March 13th. Raymond James Financial lowered shares of EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. The Goldman Sachs Group lowered their target price on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 13th. Wall Street Zen upgraded shares of EverCommerce from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings upgraded shares of EverCommerce from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, March 13th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.71.

EverCommerce Trading Down 4.7%

The company has a market cap of $2.03 billion, a price-to-earnings ratio of 127.13, a P/E/G ratio of 2.65 and a beta of 1.01. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.11 and a quick ratio of 2.11. The firm’s fifty day moving average price is $11.26 and its 200-day moving average price is $11.08.

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

Institutional Investors Weigh In On EverCommerce

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. raised its holdings in shares of EverCommerce by 118.3% during the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after buying an additional 1,667 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in EverCommerce in the 3rd quarter valued at approximately $91,000. R Squared Ltd acquired a new stake in EverCommerce in the 3rd quarter valued at approximately $122,000. Prudential Financial Inc. increased its position in EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after acquiring an additional 1,190 shares during the period. Finally, Oxford Asset Management LLP acquired a new stake in EverCommerce in the 2nd quarter valued at approximately $168,000. Institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

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.