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

EverCommerce Inc. (NASDAQ:EVCM) shares gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $12.15, but opened at $11.86. EverCommerce shares last traded at $12.42, with a volume of 98,021 shares trading hands.

Specifically, insider Lisa E. Storey sold 8,435 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $14.28, for a total value of $120,451.80. Following the transaction, the insider directly owned 175,730 shares in the company, valued at approximately $2,509,424.40. This represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Richard Remer sold 19,200 shares of EverCommerce stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $13.61, for a total transaction of $261,312.00. Following the completion of the sale, the chief executive officer owned 2,809,935 shares of the company’s stock, valued at $38,243,215.35. This trade represents a 0.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In other news, CFO Ryan H. Siurek sold 8,300 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $12.34, for a total value of $102,422.00. Following the completion of the transaction, the chief financial officer owned 227,037 shares of the company’s stock, valued at approximately $2,801,636.58. This trade represents a 3.53% 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.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EVCM. Royal Bank Of Canada decreased their price objective on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Lake Street Capital set a $11.00 price objective on shares of EverCommerce in a research note on Tuesday, October 14th. Barclays decreased their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of EverCommerce in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.00.

EverCommerce Stock Up 1.8%

The firm’s fifty day simple moving average is $10.27 and its 200-day simple moving average is $10.67. The company has a market cap of $2.22 billion, a PE ratio of -1,237.76, a P/E/G ratio of 6.75 and a beta of 1.07. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.71.

Institutional Investors Weigh In On EverCommerce

A number of large investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock worth $142,000 after buying an additional 1,190 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of EverCommerce by 118.3% during the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after acquiring an additional 1,667 shares during the last quarter. American Century Companies Inc. lifted its holdings in EverCommerce by 19.8% in the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company’s stock valued at $290,000 after purchasing an additional 4,576 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of EverCommerce by 141.9% during the 1st quarter. Deutsche Bank AG now owns 9,836 shares of the company’s stock worth $99,000 after purchasing an additional 5,770 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of EverCommerce during the third quarter worth about $91,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.