EverCommerce (NASDAQ:EVCM) Shares Down 6.9% – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM)’s stock price dropped 6.9% during trading on Tuesday . The stock traded as low as $11.14 and last traded at $11.2740. Approximately 25,308 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 148,934 shares. The stock had previously closed at $12.11.

Analyst Ratings Changes

EVCM has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 13th. Raymond James Financial lowered shares of EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Royal Bank Of Canada decreased their price target on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, March 13th. Wall Street Zen upgraded shares of EverCommerce from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, Canaccord Genuity Group decreased their price target on shares of EverCommerce from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.71.

EverCommerce Stock Performance

The company’s 50 day moving average price is $11.10 and its 200-day moving average price is $11.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market cap of $2.03 billion, a PE ratio of 126.74, a price-to-earnings-growth ratio of 2.58 and a beta of 1.01.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). EverCommerce had a return on equity of 2.49% and a net margin of 2.99%.The company had revenue of $151.15 million for the quarter, compared to analysts’ expectations of $150.06 million. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 19,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $11.43, for a total value of $219,456.00. Following the completion of the transaction, the chief executive officer directly owned 2,592,997 shares of the company’s stock, valued at approximately $29,637,955.71. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 291,745 shares of company stock valued at $3,278,406. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. XTX Topco Ltd boosted its holdings in EverCommerce by 110.4% in the 4th quarter. XTX Topco Ltd now owns 51,877 shares of the company’s stock valued at $628,000 after purchasing an additional 27,224 shares during the period. Barclays PLC boosted its holdings in EverCommerce by 5.1% in the 4th quarter. Barclays PLC now owns 22,854 shares of the company’s stock valued at $277,000 after purchasing an additional 1,101 shares during the period. Wells Fargo & Company MN boosted its holdings in EverCommerce by 76.8% in the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company’s stock valued at $198,000 after purchasing an additional 7,085 shares during the period. O Shaughnessy Asset Management LLC bought a new position in EverCommerce in the 4th quarter valued at $177,000. Finally, Los Angeles Capital Management LLC boosted its holdings in EverCommerce by 111.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock valued at $749,000 after purchasing an additional 34,979 shares during the period. 97.91% of the stock is owned by 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.