EverCommerce (NASDAQ:EVCM) Trading Down 7.4% – Should You Sell?

EverCommerce Inc. (NASDAQ:EVCM)’s share price dropped 7.4% during mid-day trading on Wednesday . The stock traded as low as $9.37 and last traded at $9.47. Approximately 34,627 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 134,725 shares. The stock had previously closed at $10.23.

Wall Street Analyst Weigh In

EVCM has been the subject of several recent research reports. Royal Bank Of Canada lowered their price objective 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. Wall Street Zen raised EverCommerce from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Canaccord Genuity Group upped their price objective on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings downgraded EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 price objective on shares of EverCommerce in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.25.

EverCommerce Price Performance

The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 55.94, a P/E/G ratio of 2.39 and a beta of 0.92. The business’s 50-day simple moving average is $11.23 and its two-hundred day simple moving average is $11.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last released its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.10). The firm had revenue of $147.47 million for the quarter, compared to analyst estimates of $147.18 million. EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. As a group, research analysts expect that EverCommerce Inc. will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric Richard Remer sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $10.75, for a total transaction of $48,375.00. Following the completion of the sale, the chief executive officer owned 2,822,626 shares of the company’s stock, valued at $30,343,229.50. This trade represents a 0.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa E. Storey sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $10.38, for a total transaction of $41,520.00. Following the sale, the insider directly owned 244,999 shares of the company’s stock, valued at approximately $2,543,089.62. This trade represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 289,400 shares of company stock valued at $3,241,377 in the last three months. Insiders own 10.10% of the company’s stock.

Institutional Trading of EverCommerce

Several large investors have recently modified their holdings of the stock. Barclays PLC grew its position in shares of EverCommerce by 5.1% during the 4th quarter. Barclays PLC now owns 22,854 shares of the company’s stock worth $277,000 after buying an additional 1,101 shares during the period. Prudential Financial Inc. grew its position in shares of EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares during the period. Federated Hermes Inc. grew its position in shares of EverCommerce by 118.3% during the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock worth $34,000 after buying an additional 1,667 shares during the period. American Century Companies Inc. grew its position in shares of EverCommerce by 19.8% during the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock worth $290,000 after buying an additional 4,576 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of EverCommerce by 76.8% during the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company’s stock worth $198,000 after buying an additional 7,085 shares during the period. Institutional investors and hedge funds 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.