EverCommerce (NASDAQ:EVCM) Trading Down 12.6% – Should You Sell?

Shares of EverCommerce Inc. (NASDAQ:EVCM) were down 12.6% on Tuesday . The stock traded as low as $10.69 and last traded at $10.4650. Approximately 9,120 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 138,446 shares. The stock had previously closed at $11.97.

Wall Street Analysts Forecast Growth

EVCM has been the topic of a number of recent research reports. Canaccord Genuity Group increased their price objective on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday. Citizens Jmp lowered EverCommerce from an “outperform” rating to a “market perform” rating in a research note on Friday, March 13th. Weiss Ratings upgraded EverCommerce from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Oppenheimer reiterated an “outperform” rating on shares of EverCommerce in a research report on Friday, March 13th. Finally, Wall Street Zen raised EverCommerce from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.25.

EverCommerce Trading Down 1.8%

The company has a debt-to-equity ratio of 0.72, a current ratio of 2.08 and a quick ratio of 2.11. The business’s 50-day moving average price is $11.45 and its two-hundred day moving average price is $11.09. The company has a market capitalization of $1.69 billion, a P/E ratio of 56.06, a PEG ratio of 2.29 and a beta of 0.94.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10). EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.The business had revenue of $147.47 million for the quarter, compared to analyst estimates of $147.18 million. During the same period in the previous year, the business posted $0.01 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that EverCommerce Inc. will post 0.23 EPS for the current fiscal year.

Insider Activity at EverCommerce

In related news, President Matthew David Feierstein sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $10.83, for a total value of $54,150.00. Following the sale, the president directly owned 2,120,606 shares of the company’s stock, valued at approximately $22,966,162.98. The trade was a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 9,145 shares of EverCommerce stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $9.66, for a total value of $88,340.70. Following the completion of the sale, the chief executive officer directly owned 2,876,523 shares in the company, valued at $27,787,212.18. This represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 325,945 shares of company stock worth $3,655,866 over the last 90 days. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of EverCommerce by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock worth $1,107,000 after buying an additional 11,996 shares during the last quarter. American Century Companies Inc. increased its position in shares of EverCommerce by 19.8% in the second quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock valued at $290,000 after acquiring an additional 4,576 shares during the last quarter. Prudential Financial Inc. raised its holdings in EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after acquiring an additional 1,190 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in EverCommerce during the second quarter worth about $302,000. Finally, Lazard Asset Management LLC boosted its position in 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 purchasing an additional 49,041 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

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.