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

EverCommerce Inc. (NASDAQ:EVCM)’s stock price gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $9.89, but opened at $8.92. EverCommerce shares last traded at $9.1960, with a volume of 3,494 shares traded.

Specifically, President Matthew Feierstein sold 10,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the president directly owned 1,961,214 shares of the company’s stock, valued at approximately $19,612,140. This represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EVCM shares. Weiss Ratings upgraded shares of EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. Royal Bank Of Canada reduced their price target on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, August 6th. Barclays boosted their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Finally, Wall Street Zen cut EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.

EverCommerce Stock Performance

The business’s fifty day moving average price is $9.14 and its 200-day moving average price is $10.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a market cap of $1.64 billion, a PE ratio of 51.50, a P/E/G ratio of 0.89 and a beta of 0.75.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.10). The company had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 earnings per share. As a group, equities research analysts forecast that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On EverCommerce

A number of hedge funds have recently added to or reduced their stakes in EVCM. Bank of America Corp DE purchased a new position in shares of EverCommerce in the 2nd quarter worth $125,000. Deutsche Bank AG bought a new stake in shares of EverCommerce during the 2nd quarter valued at about $144,000. Engineers Gate Manager LP grew its stake 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 purchasing an additional 2,982 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of EverCommerce during the 2nd quarter valued at about $324,000. Finally, Quantinno Capital Management LP increased its position in shares of EverCommerce by 117.7% during the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock valued at $552,000 after purchasing an additional 26,109 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

About EverCommerce

EverCommerce, Inc is a Denver-based provider of integrated software and payment solutions for service-oriented small and medium-sized businesses. The company develops and operates vertical-market software designed to help businesses manage customer relationships, scheduling, communications, billing, payments, marketing and other administrative functions.

Its solutions serve a range of industries, including health services, home and field services, fitness and wellness, and other professional services.