Key Points
- EverCommerce insider Lisa Storey sold 17,012 shares at an average price of $10.01, generating $170,290.12. The sale reduced her direct ownership by 7.1% to 222,586 shares.
- EverCommerce’s latest quarterly results fell short of expectations, with adjusted earnings of $0.05 per share versus the $0.15 consensus estimate, while revenue reached $152.02 million, up 2.7% year over year.
- Analysts maintain a consensus “Hold” rating with an average price target of $11.00; EVCM recently traded near $10.16, below its 12-month high of $14.41.
EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) insider Lisa Storey sold 17,012 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $10.01, for a total transaction of $170,290.12. Following the completion of the sale, the insider directly owned 222,586 shares in the company, valued at approximately $2,228,085.86. The trade was a 7.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
EverCommerce Stock Down 0.3%
Shares of EVCM opened at $10.16 on Tuesday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 56.44, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. EverCommerce Inc. has a 12 month low of $7.66 and a 12 month high of $14.41. The company has a 50-day moving average price of $10.39 and a two-hundred day moving average price of $10.80.
EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share 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 the consensus estimate of $152.29 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts predict that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.
Hedge Funds Weigh In On EverCommerce
Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE acquired a new position in EverCommerce in the second quarter worth $125,000. Prudential Financial Inc. increased its stake in shares of EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock valued at $142,000 after buying an additional 1,190 shares in the last quarter. Deutsche Bank AG bought a new position in shares of EverCommerce in the second quarter valued at about $144,000. O Shaughnessy Asset Management LLC acquired a new position in EverCommerce during the 4th quarter worth about $177,000. Finally, BNP Paribas Financial Markets lifted its position in EverCommerce by 863.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock worth $171,000 after buying an additional 13,734 shares in the last quarter. Institutional investors own 97.91% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on EVCM. Weiss Ratings cut EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. Royal Bank Of Canada lowered their target price on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a report on Thursday, August 6th. Barclays increased their target price 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. Wall Street Zen downgraded shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Finally, Canaccord Genuity Group boosted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.00.
Check Out Our Latest Stock Report on EverCommerce
EverCommerce Company Profile
(
Get Free Report)
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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