EverCommerce (NASDAQ:EVCM) Shares Down 3.8% – What’s Next?

EverCommerce Inc. (NASDAQ:EVCM)’s stock price was down 3.8% on Thursday . The stock traded as low as $7.69 and last traded at $7.65. Approximately 27,610 shares traded hands during trading, a decline of 81% from the average session volume of 148,091 shares. The stock had previously closed at $7.95.

Analysts Set New Price Targets

EVCM has been the subject of a number of research analyst reports. Barclays raised their price target on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of EverCommerce from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. Royal Bank Of Canada cut their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered EverCommerce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, September 9th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, EverCommerce presently has an average rating of “Hold” and an average price target of $11.00.

EverCommerce Trading Up 1.2%

The company’s fifty day moving average is $9.85 and its two-hundred day moving average is $10.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 43.17, a P/E/G ratio of 0.75 and a beta of 0.84.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). The business had revenue of $152.02 million for the quarter, compared to analyst estimates of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, research analysts anticipate that EverCommerce Inc. will post 0.52 EPS for the current year.

Insider Transactions at EverCommerce

In other EverCommerce news, Director Eric Remer sold 47,353 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total value of $390,188.72. Following the sale, the director directly owned 5,022,792 shares of the company’s stock, valued at approximately $41,387,806.08. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Insiders have sold 617,131 shares of company stock worth $6,088,716 in the last three months. Insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP boosted its stake in shares of EverCommerce by 16.7% in the second quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock worth $209,000 after buying an additional 2,982 shares during the last quarter. Bank of America Corp DE purchased a new position in EverCommerce during the second quarter valued at approximately $125,000. BlackRock Inc. purchased a new position in EverCommerce during the second quarter valued at approximately $10,724,000. Deutsche Bank AG acquired a new position in EverCommerce in the second quarter valued at approximately $144,000. Finally, Bank of New York Mellon Corp acquired a new position in EverCommerce in the second quarter valued at approximately $324,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

About EverCommerce

EverCommerce Inc is a provider of integrated software and payment solutions designed primarily for small and midsize service-based businesses. Its cloud-based technology helps customers manage daily operations, including scheduling, customer relationship management, billing, payment processing, marketing, business reporting and communications.

The company serves a range of vertical markets, including home and field services, health and wellness, fitness, education, veterinary care, and other personal and professional services.