EverCommerce (NASDAQ:EVCM) Sets New 1-Year Low on Insider Selling

EverCommerce Inc. (NASDAQ:EVCM) hit a new 52-week low on Saturday following insider selling activity. The company traded as low as $8.10 and last traded at $9.36, with a volume of 386698 shares traded. The stock had previously closed at $8.95.

Specifically, CEO Eric Richard Remer sold 10,117 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $9.05, for a total value of $91,558.85. Following the completion of the sale, the chief executive officer now directly owns 7,686,872 shares in the company, valued at $69,566,191.60. This represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Richard Remer sold 9,404 shares of EverCommerce stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.06, for a total value of $85,200.24. Following the completion of the sale, the chief executive officer now directly owns 7,707,226 shares in the company, valued at approximately $69,827,467.56. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their price objective on EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday. Oppenheimer decreased their price target on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Royal Bank of Canada lowered their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday. Barclays dropped their price target on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Jefferies Financial Group cut their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, EverCommerce presently has an average rating of “Hold” and a consensus price target of $11.27.

EverCommerce Price Performance

The company has a market cap of $1.72 billion, a PE ratio of -33.43 and a beta of 1.12. The firm has a 50 day moving average of $10.17 and a two-hundred day moving average of $10.71. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. During the same quarter last year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EverCommerce

Several large investors have recently added to or reduced their stakes in EVCM. Janus Henderson Group PLC increased its position in shares of EverCommerce by 34.6% during the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock worth $4,716,000 after acquiring an additional 110,183 shares during the period. Woodline Partners LP increased its stake in EverCommerce by 24.8% during the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after purchasing an additional 106,359 shares in the last quarter. JPMorgan Chase & Co. lifted its position in EverCommerce by 161.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after acquiring an additional 63,139 shares during the period. Raymond James Financial Inc. acquired a new position in EverCommerce in the 4th quarter worth approximately $694,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of EverCommerce by 84.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock worth $1,468,000 after purchasing an additional 61,144 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

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.