EverCommerce (NASDAQ:EVCM) Shares Gap Down – Here’s What Happened

EverCommerce Inc. (NASDAQ:EVCM) gapped down prior to trading on Monday . The stock had previously closed at $12.15, but opened at $11.86. EverCommerce shares last traded at $12.17, with a volume of 45,983 shares trading hands.

Analyst Ratings Changes

EVCM has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Piper Sandler lifted their target price on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Oppenheimer increased their price target on EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Evercore ISI lifted their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, EverCommerce presently has an average rating of “Moderate Buy” and an average target price of $12.56.

EverCommerce Price Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The stock’s 50 day simple moving average is $10.92 and its 200 day simple moving average is $10.69.

EverCommerce (NASDAQ:EVCM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. EverCommerce’s revenue was up .9% compared to the same quarter last year. Analysts forecast that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 4,200 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $10.37, for a total value of $43,554.00. Following the completion of the sale, the chief executive officer now owns 8,068,540 shares in the company, valued at $83,670,759.80. This represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 130,708 shares of company stock valued at $1,436,159 over the last ninety days. 11.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.