EverCommerce (NASDAQ:EVCM) Reaches New 52-Week Low After Insider Selling

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report)'s share price reached a new 52-week low on Saturday after an insider sold shares in the company. The company traded as low as $8.10 and last traded at $9.36, with a volume of 386698 shares. The stock had previously closed at $8.95.

Specifically, CEO Eric Richard Remer sold 10,117 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total transaction of $91,558.85. Following the sale, the chief executive officer now directly owns 7,686,872 shares in the company, valued at approximately $69,566,191.60. The trade was a 0.13 % 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. Also, CEO Eric Richard Remer sold 9,404 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.06, for a total value of $85,200.24. Following the completion of the transaction, the chief executive officer now directly owns 7,707,226 shares of the company's stock, valued at approximately $69,827,467.56. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

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Analyst Ratings Changes

Several research analysts recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 14th. Oppenheimer cut their price objective on shares of EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Piper Sandler decreased their target price on shares of EverCommerce from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Monday. Royal Bank of Canada decreased their target price on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. Finally, Barclays decreased their target price on shares of EverCommerce from $12.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $11.09.

EverCommerce Stock Performance

The company has a market cap of $1.84 billion, a price-to-earnings ratio of -35.78 and a beta of 1.12. The stock's fifty day simple moving average is $10.14 and its two-hundred day simple moving average is $10.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). The company had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) EPS. Equities research analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Woodline Partners LP lifted its holdings in shares of EverCommerce by 24.8% during the 4th quarter. Woodline Partners LP now owns 535,094 shares of the company's stock valued at $5,891,000 after acquiring an additional 106,359 shares in the last quarter. State Street Corp lifted its holdings in shares of EverCommerce by 2.4% during the 3rd quarter. State Street Corp now owns 514,965 shares of the company's stock valued at $5,335,000 after acquiring an additional 12,156 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of EverCommerce by 34.6% during the 4th quarter. Janus Henderson Group PLC now owns 428,319 shares of the company's stock valued at $4,716,000 after acquiring an additional 110,183 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of EverCommerce by 4.2% during the 4th quarter. Northern Trust Corp now owns 199,283 shares of the company's stock valued at $2,194,000 after acquiring an additional 7,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of EverCommerce by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company's stock valued at $1,856,000 after acquiring an additional 1,092 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

About EverCommerce

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company's solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.