Insider Selling: EverCommerce (NASDAQ:EVCM) Insider Sells $11,837.92 in Stock

EverCommerce Inc. (NASDAQ:EVCM) insider Lisa Storey sold 1,228 shares of EverCommerce stock in a transaction dated Saturday, August 22nd. The stock was sold at an average price of $9.64, for a total transaction of $11,837.92. Following the transaction, the insider directly owned 221,358 shares in the company, valued at $2,133,891.12. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

EverCommerce Stock Performance

NASDAQ:EVCM opened at $9.02 on Thursday. The company’s 50-day moving average is $10.46 and its two-hundred day moving average is $10.71. EverCommerce Inc. has a 1-year low of $7.66 and a 1-year high of $14.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 0.87 and a beta of 0.91.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results 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 return on equity of 3.95% and a net margin of 5.69%.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 business earned $0.04 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that EverCommerce Inc. will post 0.52 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on EVCM shares. Barclays upped their price target on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Royal Bank Of Canada reduced their price objective on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 target price on shares of EverCommerce in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of EverCommerce in a research note on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in shares of EverCommerce by 149.3% during the second quarter. California State Teachers Retirement System now owns 1,982 shares of the company’s stock worth $197,000 after buying an additional 1,187 shares during the period. Bank of America Corp DE acquired a new position in EverCommerce during the 2nd quarter worth about $125,000. Prudential Financial Inc. boosted its holdings in EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after acquiring an additional 1,190 shares during the period. Deutsche Bank AG purchased a new position in EverCommerce during the 2nd quarter valued at about $144,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in EverCommerce in the 4th quarter valued at about $177,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.