Key Points
- EverCommerce Director Richard Simonson sold 77,465 shares for $550,001.50, reducing his stake by 77.61% to 22,346 shares.
- The company reported quarterly EPS of $0.03, below the $0.16 consensus estimate, and revenue of $151.45 million, also slightly below expectations; revenue nevertheless grew 2.6% year over year.
- Analyst views were mixed, with a consensus “Reduce” rating and an average price target of $8.42; several firms recently lowered their targets.
EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) Director Richard Simonson sold 77,465 shares of the company's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $7.10, for a total value of $550,001.50. Following the completion of the sale, the director owned 22,346 shares in the company, valued at $158,656.60. The trade was a 77.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
EverCommerce Stock Up 1.5%
EVCM stock opened at $6.98 on Friday. The business has a 50 day moving average of $8.46 and a 200 day moving average of $10.14. The firm has a market cap of $1.23 billion, a PE ratio of 46.54, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. EverCommerce Inc. has a twelve month low of $6.01 and a twelve month high of $14.41. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.72.
EverCommerce (NASDAQ:EVCM - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.13). EverCommerce had a return on equity of 4.00% and a net margin of 4.81%. The company had revenue of $151.45 million during the quarter, compared to the consensus estimate of $152.91 million. During the same period last year, the firm posted ($0.03) earnings per share. The company's revenue was up 2.6% compared to the same quarter last year. On average, research analysts forecast that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.
Institutional Trading of EverCommerce
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of EverCommerce in the 2nd quarter worth $10,724,000. Black Diamond Financial LLC purchased a new position in shares of EverCommerce in the third quarter worth $2,464,000. CoreCap Advisors LLC bought a new position in shares of EverCommerce during the second quarter valued at $2,716,000. Bank of New York Mellon Corp bought a new position in shares of EverCommerce during the second quarter valued at $324,000. Finally, Bank of America Corp DE lifted its holdings in shares of EverCommerce by 202.9% during the first quarter. Bank of America Corp DE now owns 47,848 shares of the company's stock valued at $547,000 after purchasing an additional 32,053 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Wall Street Zen raised EverCommerce from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 7th. Weiss Ratings downgraded shares of EverCommerce from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, November 3rd. Canaccord Genuity Group reduced their price objective on shares of EverCommerce from $13.00 to $9.00 and set a "buy" rating for the company in a research note on Friday, November 6th. Oppenheimer decreased their target price on shares of EverCommerce from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Friday, November 6th. Finally, Barclays decreased their target price on shares of EverCommerce from $10.00 to $8.50 and set an "underweight" rating for the company in a report on Monday. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, EverCommerce presently has a consensus rating of "Reduce" and a consensus price target of $8.42.
Read Our Latest Stock Report on EverCommerce
EverCommerce Company Profile
(
Get Free Report)
EverCommerce is a software company that provides cloud-based tools for service businesses. Its platform combines vertical software with integrated payments and other services to help companies manage operations and customer relationships. Its products support functions such as business management, scheduling, customer engagement, marketing, and payment processing. EverCommerce serves businesses across industries including home services, health and wellness, fitness, education, and professional services.
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