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

EverCommerce Inc. (NASDAQ:EVCM) gapped down prior to trading on Monday after an insider sold shares in the company. 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 EverCommerce stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the sale, the president owned 1,961,214 shares in the company, valued at $19,612,140. The trade was a 0.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

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

EverCommerce Stock Up 2.2%

The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 0.89 and a beta of 0.75. The business’s 50-day moving average is $9.14 and its two-hundred day moving average 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.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data 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). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm had revenue of $152.02 million for the quarter, compared to analyst estimates of $152.29 million. During the same quarter in the prior year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On EverCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP boosted its holdings in shares of EverCommerce by 16.7% in the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after buying an additional 2,982 shares during the period. Bank of America Corp DE acquired a new stake in shares of EverCommerce during the second quarter worth $125,000. BlackRock Inc. bought a new stake in EverCommerce in the 2nd quarter valued at $10,724,000. Deutsche Bank AG acquired a new position in EverCommerce in the 2nd quarter worth $144,000. Finally, Bank of New York Mellon Corp acquired a new position in EverCommerce in the 2nd quarter worth $324,000. 97.91% of the stock is owned by 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.