EverCommerce (NASDAQ:EVCM) Stock Price Down 7.6% – Should You Sell?

EverCommerce Inc. (NASDAQ:EVCM) was down 7.6% on Tuesday . The company traded as low as $11.10 and last traded at $11.10. Approximately 2,638 shares changed 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.

Analysts Set New Price Targets

Several research firms have recently issued reports on EVCM. Oppenheimer upped their target price on EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada boosted their price objective on EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JMP Securities raised their target price on EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their target price on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Barclays increased their price target on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.56.

EverCommerce Price Performance

The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.06 billion, a PE ratio of -40.11 and a beta of 1.12. The business has a 50-day moving average price of $11.34 and a 200 day moving average price of $10.83.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The firm had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Eric Richard Remer sold 4,464 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $12.06, for a total value of $53,835.84. Following the transaction, the chief executive officer now owns 7,921,059 shares of the company’s stock, valued at approximately $95,527,971.54. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 17,545 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $11.92, for a total value of $209,136.40. Following the completion of the sale, the president now owns 2,246,624 shares in the company, valued at $26,779,758.08. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,322 shares of company stock worth $1,716,689. 11.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of EverCommerce in the third quarter worth approximately $107,000. The Manufacturers Life Insurance Company lifted its position in EverCommerce by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after purchasing an additional 1,089 shares during the last quarter. Renaissance Technologies LLC grew its stake in EverCommerce by 19.4% in the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after buying an additional 2,700 shares in the last quarter. RIA Advisory Group LLC bought a new position in shares of EverCommerce in the 3rd quarter worth $241,000. Finally, Barclays PLC raised its position in shares of EverCommerce by 305.6% during the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after buying an additional 22,360 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.