EverCommerce (NASDAQ:EVCM) Sets New 52-Week Low Following Insider Selling

EverCommerce Inc. (NASDAQ:EVCM) shares reached a new 52-week low on Saturday after an insider sold shares in the company. The company traded as low as $8.10 and last traded at $9.36, with a volume of 386698 shares changing hands. The stock had previously closed at $8.95.

Specifically, CEO Eric Richard Remer sold 10,117 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total transaction of $91,558.85. Following the transaction, the chief executive officer now directly owns 7,686,872 shares in the company, valued at $69,566,191.60. The trade was a 0.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric Richard Remer sold 9,404 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.06, for a total transaction of $85,200.24. Following the sale, the chief executive officer now owns 7,707,226 shares of the company’s stock, valued at $69,827,467.56. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

EVCM has been the topic of several research analyst reports. Royal Bank of Canada cut their price objective on EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday. Oppenheimer cut their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays dropped their target price on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday. Jefferies Financial Group cut their price target on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.27.

EverCommerce Stock Performance

The company’s fifty day simple moving average is $10.17 and its two-hundred day simple moving average is $10.71. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -33.43 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. During the same period in the prior year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EverCommerce

Hedge funds have recently made changes to their positions in the business. Woodline Partners LP increased its holdings in shares of EverCommerce by 24.8% during the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after purchasing an additional 106,359 shares during the period. State Street Corp grew its position in EverCommerce by 2.4% in the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after buying an additional 12,156 shares in the last quarter. Janus Henderson Group PLC increased its stake in EverCommerce by 34.6% during the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after buying an additional 110,183 shares during the period. Northern Trust Corp raised its position in shares of EverCommerce by 4.2% during the 4th quarter. Northern Trust Corp now owns 199,283 shares of the company’s stock worth $2,194,000 after buying an additional 7,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of EverCommerce by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock worth $1,856,000 after acquiring an additional 1,092 shares during the period. Institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.