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

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

Wall Street Analyst Weigh In

Several brokerages have commented on EVCM. Royal Bank Of Canada cut their price target on shares of EverCommerce from $12.00 to $11.00 and set a “sector perform” rating for the company in a report on Friday, March 13th. Citizens Jmp downgraded shares of EverCommerce from an “outperform” rating to a “market perform” rating in a report on Friday, March 13th. The Goldman Sachs Group dropped their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 13th. Zacks Research downgraded shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Finally, Wall Street Zen raised shares of EverCommerce from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.71.

EverCommerce Price Performance

The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $2.03 billion, a P/E ratio of 126.74, a P/E/G ratio of 2.58 and a beta of 1.01. The business’s fifty day moving average price is $11.10 and its 200-day moving average price is $11.04.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $150.06 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Eric Richard Remer sold 7,786 shares of EverCommerce stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $11.42, for a total value of $88,916.12. Following the transaction, the chief executive officer owned 2,991,723 shares in the company, valued at $34,165,476.66. This trade represents a 0.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Matthew David Feierstein sold 10,000 shares of EverCommerce stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $11.43, for a total transaction of $114,300.00. Following the completion of the transaction, the president owned 2,180,606 shares in the company, valued at approximately $24,924,326.58. The trade was a 0.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 291,745 shares of company stock valued at $3,278,406 over the last ninety days. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

Large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new position in EverCommerce in the 2nd quarter worth $595,000. Arrowstreet Capital Limited Partnership raised its position in EverCommerce by 328.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock worth $7,502,000 after purchasing an additional 547,712 shares during the period. Tudor Investment Corp ET AL raised its position in EverCommerce by 200.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock worth $1,397,000 after purchasing an additional 83,794 shares during the period. XTX Topco Ltd raised its position in EverCommerce by 110.4% in the 4th quarter. XTX Topco Ltd now owns 51,877 shares of the company’s stock worth $628,000 after purchasing an additional 27,224 shares during the period. Finally, Zacks Investment Management purchased a new position in EverCommerce in the 3rd quarter worth $418,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About EverCommerce

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.