EverCommerce (NASDAQ:EVCM) Trading Down 3.8% – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM) dropped 3.8% during trading on Thursday . The company traded as low as $7.69 and last traded at $7.65. Approximately 27,610 shares were traded during trading, a decline of 81% from the average daily volume of 148,091 shares. The stock had previously closed at $7.95.

Analyst Ratings Changes

A number of research firms have recently commented on EVCM. Barclays boosted their price objective on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, August 6th. Weiss Ratings lowered EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, September 9th. Wall Street Zen upgraded shares of EverCommerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Finally, Royal Bank Of Canada reduced their price objective on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.00.

EverCommerce Stock Performance

The firm’s 50 day simple moving average is $9.95 and its 200-day simple moving average is $10.44. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 0.77 and a beta of 0.84. 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 results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The business had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. Analysts expect that EverCommerce Inc. will post 0.52 EPS for the current year.

Insider Activity

In related news, Director Eric Remer sold 6,354 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $8.07, for a total transaction of $51,276.78. Following the completion of the sale, the director directly owned 5,011,125 shares in the company, valued at approximately $40,439,778.75. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 616,340 shares of company stock valued at $6,082,388 over the last ninety days. 10.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in EverCommerce in the 2nd quarter worth $10,724,000. CoreCap Advisors LLC acquired a new stake in shares of EverCommerce during the 2nd quarter valued at about $2,716,000. Quantinno Capital Management LP raised its holdings in shares of EverCommerce by 117.7% in the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock worth $552,000 after buying an additional 26,109 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of EverCommerce by 202.9% in the 1st quarter. Bank of America Corp DE now owns 47,848 shares of the company’s stock worth $547,000 after buying an additional 32,053 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in EverCommerce during the second quarter worth $324,000. 97.91% of the stock is owned by institutional investors and hedge funds.

EverCommerce Company Profile

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.