EverCommerce (NASDAQ:EVCM) Director Richard Simonson Sells 77,465 Shares of Company Stock

EverCommerce Inc. (NASDAQ:EVCM) Director Richard Simonson sold 77,465 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $7.10, for a total value of $550,001.50. Following the transaction, the director owned 22,346 shares of the company’s stock, valued at approximately $158,656.60. This represents a 77.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

EverCommerce Stock Performance

Shares of EVCM stock opened at $6.98 on Friday. The stock has a fifty day moving average of $8.46 and a 200 day moving average of $10.14. EverCommerce Inc. has a 52 week low of $6.01 and a 52 week high of $14.41. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 0.85 and a beta of 0.63. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). EverCommerce had a net margin of 4.81% and a return on equity of 4.00%. The company had revenue of $151.45 million for the quarter, compared to analysts’ expectations of $152.91 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

EVCM has been the topic of several research analyst reports. Deutsche Bank cut shares of EverCommerce from a “buy” rating to a “hold” rating and reduced their price target for the company from $12.00 to $7.00 in a research report on Friday, November 6th. Royal Bank Of Canada lowered their price objective on shares of EverCommerce from $10.00 to $7.00 and set a “sector perform” rating for the company in a report on Friday, November 6th. Wall Street Zen raised EverCommerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Barclays cut their price objective on EverCommerce from $10.00 to $8.50 and set an “underweight” rating on the stock in a research report on Monday. Finally, Oppenheimer reduced their target price on EverCommerce from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, November 6th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $8.42.

Hedge Funds Weigh In On EverCommerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of EverCommerce in the 2nd quarter worth about $10,724,000. Black Diamond Financial LLC bought a new stake in EverCommerce during the third quarter worth about $2,464,000. CoreCap Advisors LLC bought a new stake in EverCommerce during the second quarter worth about $2,716,000. Bank of New York Mellon Corp bought a new stake in EverCommerce during the second quarter worth about $324,000. Finally, Bank of America Corp DE grew its holdings in EverCommerce by 202.9% in the first quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock worth $547,000 after purchasing an additional 32,053 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce is a software company that provides cloud-based tools for service businesses. Its platform combines vertical software with integrated payments and other services to help companies manage operations and customer relationships. Its products support functions such as business management, scheduling, customer engagement, marketing, and payment processing. EverCommerce serves businesses across industries including home services, health and wellness, fitness, education, and professional services.