Lisa Storey Sells 17,012 Shares of EverCommerce (NASDAQ:EVCM) Stock

EverCommerce Inc. (NASDAQ:EVCM) insider Lisa Storey sold 17,012 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was 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 of the company’s stock, valued at approximately $2,228,085.86. The trade was a 7.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

EverCommerce Stock Down 1.8%

Shares of NASDAQ EVCM opened at $9.98 on Wednesday. EverCommerce Inc. has a 52-week low of $7.66 and a 52-week high of $14.41. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 55.44, a PEG ratio of 0.99 and a beta of 0.91. The stock has a 50 day moving average price of $10.41 and a 200 day moving average price of $10.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The company had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. During the same quarter in the prior year, the company earned $0.04 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Institutional Trading of EverCommerce

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of EverCommerce during the second quarter worth $10,724,000. CoreCap Advisors LLC acquired a new position in EverCommerce in the 2nd quarter valued at about $2,716,000. JPMorgan Chase & Co. increased its stake in EverCommerce by 11.9% during the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock worth $1,107,000 after purchasing an additional 11,996 shares during the period. Goldman Sachs Group Inc. increased its stake in EverCommerce by 94.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company’s stock worth $1,266,000 after purchasing an additional 50,854 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of EverCommerce by 111.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock worth $749,000 after purchasing an additional 34,979 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 target price on shares of EverCommerce in a research note on Friday, May 8th. Canaccord Genuity Group boosted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of EverCommerce from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Royal Bank Of Canada lowered their price target on EverCommerce from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 6th. Finally, Barclays boosted their price target on EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.00.

About EverCommerce

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.