Matthew David Feierstein Sells 10,000 Shares of EverCommerce (NASDAQ:EVCM) Stock

EverCommerce Inc. (NASDAQ:EVCM) President Matthew David Feierstein sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $11.26, for a total value of $112,600.00. Following the transaction, the president owned 2,106,254 shares of the company’s stock, valued at $23,716,420.04. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Matthew David Feierstein also recently made the following trade(s):

• On Wednesday, June 3rd, Matthew David Feierstein sold 1,052 shares of EverCommerce stock. The shares were sold at an average price of $10.05, for a total value of $10,572.60.
• On Wednesday, May 6th, Matthew David Feierstein sold 5,000 shares of EverCommerce stock. The shares were sold at an average price of $10.83, for a total value of $54,150.00.
• On Monday, May 4th, Matthew David Feierstein sold 10,000 shares of EverCommerce stock. The shares were sold at an average price of $11.87, for a total value of $118,700.00.
• On Friday, May 1st, Matthew David Feierstein sold 10,000 shares of EverCommerce stock. The shares were sold at an average price of $11.94, for a total value of $119,400.00.
• On Tuesday, April 7th, Matthew David Feierstein sold 5,000 shares of EverCommerce stock. The shares were sold at an average price of $11.40, for a total value of $57,000.00.
• On Monday, April 6th, Matthew David Feierstein sold 10,000 shares of EverCommerce stock. The shares were sold at an average price of $11.90, for a total value of $119,000.00.
• On Wednesday, April 1st, Matthew David Feierstein sold 10,000 shares of EverCommerce stock. The shares were sold at an average price of $11.43, for a total value of $114,300.00.
• On Thursday, March 5th, Matthew David Feierstein sold 5,000 shares of EverCommerce stock. The shares were sold at an average price of $12.17, for a total value of $60,850.00.

EverCommerce Stock Performance

Shares of EverCommerce stock opened at $9.51 on Friday. The business has a 50-day moving average of $11.16 and a 200 day moving average of $11.07. EverCommerce Inc. has a 12 month low of $7.66 and a 12 month high of $14.41. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 55.94, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.08 and a quick ratio of 2.08.

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

Key Stories Impacting EverCommerce

Here are the key news stories impacting EverCommerce this week:

• Negative Sentiment: CEO Eric Richard Remer sold 13,542 shares on June 2 and another 5,658 shares on June 3, adding to a recent pattern of insider selling that may make investors cautious. SEC filing
• Negative Sentiment: President Matthew David Feierstein also sold shares on June 1 and June 3, reinforcing the impression of ongoing insider distribution rather than insider accumulation. SEC filing
• Neutral Sentiment: The sales were executed under pre-arranged 10b5-1 trading plans and were described as being for tax withholding related to equity vesting, which suggests they may be routine rather than a sign of changing fundamentals.
• Neutral Sentiment: EverCommerce recently reported mixed quarterly results, with revenue of $147.47 million roughly matching expectations, but EPS of $0.04 missing the $0.14 consensus estimate.
• Positive Sentiment: Analyst sentiment is mixed but not uniformly bearish, with a consensus rating of Hold and a consensus target price above the stock’s recent trading range.

Institutional Investors Weigh In On EverCommerce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tudor Investment Corp ET AL raised its position in shares of EverCommerce by 200.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock worth $1,397,000 after acquiring an additional 83,794 shares in the last quarter. Wells Fargo & Company MN raised 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 acquiring an additional 7,085 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of EverCommerce during the 4th quarter worth about $177,000. BNP Paribas Financial Markets raised its position in shares of EverCommerce by 863.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock worth $171,000 after acquiring an additional 13,734 shares in the last quarter. Finally, Oxford Asset Management LLP acquired a new stake in shares of EverCommerce during the 2nd quarter worth about $168,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EVCM shares. The Goldman Sachs Group reduced their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 13th. Canaccord Genuity Group increased their price target on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Royal Bank Of Canada reduced their price target on EverCommerce from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, March 13th. Weiss Ratings lowered EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Finally, Citizens Jmp lowered EverCommerce from an “outperform” rating to a “market perform” rating in a research report on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.25.

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.