EverCommerce (NASDAQ:EVCM) Trading Down 7.3% – Here’s What Happened

EverCommerce Inc. (NASDAQ:EVCM)’s share price traded down 7.3% on Tuesday . The stock traded as low as $7.45 and last traded at $7.3450. 31,971 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 145,256 shares. The stock had previously closed at $7.92.

Analyst Upgrades and Downgrades

EVCM has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of EverCommerce in a research note on Friday, August 21st. Royal Bank Of Canada lowered their price target on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. Barclays upped their price objective on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised shares of EverCommerce from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 5th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.00.

EverCommerce Stock Performance

The stock has a 50-day moving average price of $10.23 and a 200 day moving average price of $10.56. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 37.56, a P/E/G ratio of 0.70 and a beta of 0.84. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The firm had revenue of $152.02 million during 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 company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. On average, analysts forecast that EverCommerce Inc. will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other EverCommerce news, Director Eric Remer sold 6,354 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 5,011,125 shares of the company’s stock, valued at approximately $40,439,778.75. This trade represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 620,984 shares of company stock worth $6,124,416. 10.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EVCM. BlackRock Inc. purchased a new position in EverCommerce in the 2nd quarter valued at $10,724,000. CoreCap Advisors LLC acquired a new stake in shares of EverCommerce in the 2nd quarter valued at approximately $2,716,000. JPMorgan Chase & Co. lifted its holdings in shares of EverCommerce by 11.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock valued at $1,107,000 after buying an additional 11,996 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of EverCommerce by 94.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock worth $1,266,000 after purchasing an additional 50,854 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in EverCommerce by 111.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock worth $749,000 after buying an additional 34,979 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.