EverCommerce (NASDAQ:EVCM) Stock Price Down 7.6% - Time to Sell?

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) dropped 7.6% during trading on Tuesday . The company traded as low as $11.10 and last traded at $11.10. Approximately 2,638 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 138,075 shares. The stock had previously closed at $12.01.

Analyst Ratings Changes

A number of brokerages recently weighed in on EVCM. Barclays lifted their price objective on shares of EverCommerce from $9.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Royal Bank of Canada boosted their price target on EverCommerce from $12.00 to $14.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Piper Sandler raised their price objective on EverCommerce from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Oppenheimer upped their target price on EverCommerce from $12.00 to $13.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, JMP Securities raised their price target on EverCommerce from $12.00 to $15.00 and gave the company a "market outperform" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.56.

EverCommerce Price Performance

The company has a market cap of $2.21 billion, a PE ratio of -43.04 and a beta of 1.12. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $11.31 and a 200-day simple moving average of $10.83.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm had revenue of $176.26 million for the quarter, compared to analysts' expectations of $174.87 million. EverCommerce's revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EverCommerce news, President Matthew David Feierstein sold 7,455 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $12.06, for a total transaction of $89,907.30. Following the sale, the president now owns 2,239,169 shares in the company, valued at approximately $27,004,378.14. The trade was a 0.33 % 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. Also, CEO Eric Richard Remer sold 5,436 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $10.09, for a total transaction of $54,849.24. Following the completion of the transaction, the chief executive officer now owns 8,100,550 shares in the company, valued at approximately $81,734,549.50. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,421 shares of company stock worth $1,792,578 in the last ninety days. 11.60% of the stock is owned by insiders.

Institutional Trading of EverCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in EverCommerce by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company's stock valued at $1,805,000 after purchasing an additional 9,595 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company's stock valued at $3,740,000 after acquiring an additional 95,934 shares during the period. Renaissance Technologies LLC increased its stake in shares of EverCommerce by 19.4% in the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company's stock valued at $182,000 after purchasing an additional 2,700 shares in the last quarter. AQR Capital Management LLC raised its holdings in EverCommerce by 394.8% in the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company's stock worth $611,000 after purchasing an additional 44,378 shares during the period. Finally, Millennium Management LLC boosted its position in EverCommerce by 673.4% during the second quarter. Millennium Management LLC now owns 323,360 shares of the company's stock worth $3,550,000 after purchasing an additional 281,551 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

EverCommerce Company Profile

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.