Key Points
- EverCommerce insider Lisa Storey sold 4,000 shares on May 21 at an average price of $10.38, totaling $41,520. The sale reduced her direct holdings by 1.61% and was tied to tax withholding from vesting equity awards.
- The stock was trading lower, with EverCommerce down 1.5% and opening at $10.53. The company’s shares have traded between $7.66 and $14.41 over the past year.
- Recent earnings missed expectations, as EverCommerce reported $0.04 EPS versus the $0.14 consensus, though revenue came in roughly in line at $147.47 million. Analysts currently have a consensus rating of Hold with a target price of $11.25.
EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) insider Lisa Storey sold 4,000 shares of EverCommerce stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $10.38, for a total transaction of $41,520.00. Following the transaction, the insider directly owned 244,999 shares in the company, valued at approximately $2,543,089.62. This represents a 1.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
EverCommerce Trading Down 1.5%
NASDAQ:EVCM opened at $10.53 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.86 billion, a PE ratio of 61.94, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The firm's 50 day moving average is $11.16 and its 200 day moving average is $11.00. EverCommerce Inc. has a 12 month low of $7.66 and a 12 month high of $14.41.
EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.10). The company had revenue of $147.47 million during the quarter, compared to the consensus estimate of $147.18 million. EverCommerce had a return on equity of 3.37% and a net margin of 5.47%.The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. Sell-side analysts expect that EverCommerce Inc. will post 0.24 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. raised its position in shares of EverCommerce by 118.3% during the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company's stock valued at $34,000 after purchasing an additional 1,667 shares during the period. R Squared Ltd bought a new stake in shares of EverCommerce in the 3rd quarter worth about $122,000. Prudential Financial Inc. increased its holdings in shares of EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after buying an additional 1,190 shares during the last quarter. Oxford Asset Management LLP bought a new stake in shares of EverCommerce in the 2nd quarter worth about $168,000. Finally, SG Americas Securities LLC purchased a new position in shares of EverCommerce during the 3rd quarter worth about $169,000. Hedge funds and other institutional investors own 97.91% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on EVCM shares. Canaccord Genuity Group boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a report on Monday, May 11th. Citizens Jmp lowered shares of EverCommerce from an "outperform" rating to a "market perform" rating in a research report on Friday, March 13th. Weiss Ratings upgraded shares of EverCommerce from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Oppenheimer restated an "outperform" rating on shares of EverCommerce in a research report on Friday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $14.00 target price on shares of EverCommerce in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.25.
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About EverCommerce
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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.
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