EverCommerce (NASDAQ:EVCM) Stock Falls 4.1% – Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM) was down 4.1% on Wednesday. The stock traded as low as $6.79 and last traded at $6.75. 41,577 shares traded hands during trading, a decline of 71% from the average daily volume of 143,009 shares. The stock had previously closed at $7.04.

Analysts Set New Price Targets

A number of research firms have issued reports on EVCM. Barclays reduced their price target on EverCommerce from $10.00 to $8.50 and set an “underweight” rating on the stock in a research report on Monday. Weiss Ratings downgraded EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, November 3rd. Wall Street Zen raised EverCommerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Canaccord Genuity Group cut their target price on shares of EverCommerce from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Finally, Oppenheimer reduced their target price on shares of EverCommerce from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, November 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, EverCommerce presently has a consensus rating of “Reduce” and an average price target of $8.42.

EverCommerce Stock Up 1.5%

The stock has a market cap of $1.23 billion, a PE ratio of 46.54, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. The firm has a fifty day moving average of $8.46 and a 200 day moving average of $10.14. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). The business had revenue of $151.45 million for the quarter, compared to analysts’ expectations of $152.91 million. EverCommerce had a return on equity of 4.00% and a net margin of 4.81%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. On average, equities research analysts anticipate that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at EverCommerce

In other news, Director Eric Remer sold 47,353 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total transaction of $390,188.72. Following the completion of the sale, the director owned 5,022,792 shares in the company, valued at approximately $41,387,806.08. The trade was a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard A. Simonson sold 77,465 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $7.10, for a total transaction of $550,001.50. Following the completion of the transaction, the director owned 22,346 shares of the company’s stock, valued at approximately $158,656.60. The trade was a 77.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 400,494 shares of company stock worth $3,541,386 over the last three months. Insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Edgestream Partners L.P. purchased a new position in shares of EverCommerce during the third quarter worth about $153,000. Ethic Inc. purchased a new stake in shares of EverCommerce in the 3rd quarter valued at about $88,000. Black Diamond Financial LLC purchased a new stake in shares of EverCommerce in the 3rd quarter valued at about $2,464,000. Engineers Gate Manager LP boosted its position in shares of EverCommerce by 16.7% in the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock valued at $209,000 after purchasing an additional 2,982 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of EverCommerce in the 2nd quarter valued at about $125,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Company Profile

EverCommerce is a software company that provides cloud-based tools for service businesses. Its platform combines vertical software with integrated payments and other services to help companies manage operations and customer relationships. Its products support functions such as business management, scheduling, customer engagement, marketing, and payment processing. EverCommerce serves businesses across industries including home services, health and wellness, fitness, education, and professional services.