Insider Selling: EverCommerce (NASDAQ:EVCM) CFO Sells $171,650.52 in Stock

EverCommerce Inc. (NASDAQ:EVCM) CFO Ryan Siurek sold 16,812 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $10.21, for a total transaction of $171,650.52. Following the completion of the transaction, the chief financial officer owned 347,309 shares of the company’s stock, valued at approximately $3,546,024.89. The trade was a 4.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

EverCommerce Stock Performance

EverCommerce stock opened at $9.68 on Friday. The firm’s 50 day simple moving average is $10.43 and its 200-day simple moving average is $10.76. The company has a market cap of $1.71 billion, a P/E ratio of 53.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. EverCommerce Inc. has a fifty-two week low of $7.66 and a fifty-two week high of $14.41.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). The firm had revenue of $152.02 million during the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 EPS. As a group, equities research analysts predict that EverCommerce Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On EverCommerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of EverCommerce during the 2nd quarter valued at $10,724,000. CoreCap Advisors LLC purchased a new position in shares of EverCommerce during the 2nd quarter valued at $2,716,000. JPMorgan Chase & Co. increased its stake in shares of EverCommerce by 11.9% in the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock worth $1,107,000 after acquiring an additional 11,996 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of EverCommerce by 94.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock worth $1,266,000 after acquiring an additional 50,854 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of EverCommerce by 111.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock worth $749,000 after acquiring an additional 34,979 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank Of Canada reduced their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, August 6th. Canaccord Genuity Group lifted their price target on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, May 11th. Barclays upped their price target on EverCommerce from $8.50 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Weiss Ratings downgraded EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen lowered EverCommerce from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, EverCommerce has a consensus rating of “Hold” and an average target price of $11.00.

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.