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

EverCommerce Inc. (NASDAQ:EVCM) gapped down before the market opened on Wednesday. The stock had previously closed at $9.70, but opened at $9.43. EverCommerce shares last traded at $9.62, with a volume of 816 shares trading hands.

Analysts Set New Price Targets

EVCM has been the topic of a number of analyst reports. Weiss Ratings raised shares of EverCommerce from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. Royal Bank Of Canada dropped their target price on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, August 6th. Barclays increased their price target on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, EverCommerce currently has a consensus rating of “Hold” and a consensus price target of $11.00.

EverCommerce Stock Down 2.6%

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 $1.62 billion, a price-to-earnings ratio of 50.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.75. The business has a 50-day simple moving average of $8.66 and a 200-day simple moving average of $10.36.

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

Insider Buying and Selling

In other news, Director Eric Remer sold 47,353 shares of the firm’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 in the company, valued at approximately $41,387,806.08. This trade represents a 0.93% decrease in their position. The sale 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. In the last ninety days, insiders have sold 475,527 shares of company stock worth $4,587,256. 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 company. Bank of America Corp DE acquired a new stake in EverCommerce in the second quarter valued at $125,000. Deutsche Bank AG purchased a new stake in EverCommerce during the 2nd quarter worth about $144,000. Engineers Gate Manager LP boosted its position in shares of EverCommerce by 16.7% during the 2nd quarter. Engineers Gate Manager LP now owns 20,821 shares of the company’s stock worth $209,000 after acquiring an additional 2,982 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of EverCommerce during the 2nd quarter worth about $324,000. Finally, Quantinno Capital Management LP boosted its position in shares of EverCommerce by 117.7% during the 1st quarter. Quantinno Capital Management LP now owns 48,290 shares of the company’s stock worth $552,000 after acquiring an additional 26,109 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

About EverCommerce

EverCommerce, Inc is a software and technology company that provides integrated, cloud-based solutions for service-oriented small and midsize businesses. Its platforms are designed to help businesses manage operations, customer relationships, payments, marketing and other administrative functions through specialized applications tailored to specific industries.

The company serves a broad range of vertical markets, including home and field services, health and wellness, fitness, education, professional services and other appointment- or membership-based businesses.