EverCommerce (NASDAQ:EVCM) Insider Lisa Storey Sells 1,228 Shares

EverCommerce Inc. (NASDAQ:EVCM) insider Lisa Storey sold 1,228 shares of EverCommerce stock in a transaction that occurred on Saturday, August 22nd. The stock was sold at an average price of $9.64, for a total transaction of $11,837.92. Following the completion of the transaction, the insider directly owned 221,358 shares in the company, valued at approximately $2,133,891.12. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

EverCommerce Stock Performance

Shares of EVCM stock opened at $9.55 on Tuesday. EverCommerce Inc. has a 1-year low of $7.66 and a 1-year high of $14.41. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 53.06, a P/E/G ratio of 0.94 and a beta of 0.91. The stock’s fifty day simple moving average is $10.45 and its 200-day simple moving average is $10.73.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Wall Street Zen lowered shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Royal Bank Of Canada cut their target price on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 price target on shares of EverCommerce in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.00.

Institutional Trading of EverCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in EVCM. Bank of America Corp DE bought a new stake in shares of EverCommerce during the second quarter worth $125,000. Prudential Financial Inc. boosted its holdings in EverCommerce by 9.6% in the second 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 last quarter. Deutsche Bank AG bought a new position in EverCommerce in the second quarter valued at about $144,000. Oxford Asset Management LLP acquired a new stake in EverCommerce in the second quarter worth about $168,000. Finally, BNP Paribas Financial Markets increased its position in EverCommerce by 863.2% in the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock worth $171,000 after purchasing an additional 13,734 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About EverCommerce

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.