EverCommerce (NASDAQ:EVCM) Shares Gap Down to $9.19

Shares of EverCommerce Inc. (NASDAQ:EVCM) gapped down before the market opened on Thursday . The stock had previously closed at $9.19, but opened at $8.88. EverCommerce shares last traded at $8.88, with a volume of 1,916 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on EVCM shares. Royal Bank of Canada lowered their price target on shares of EverCommerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 target price on shares of EverCommerce in a research report on Friday, March 15th. Barclays decreased their target price on shares of EverCommerce from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, March 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $10.00 target price on shares of EverCommerce in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.00 target price (down previously from $11.00) on shares of EverCommerce in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.13.

EverCommerce Price Performance

The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -38.04 and a beta of 1.06. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $9.45 and its 200-day moving average price is $9.67.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.10). The business had revenue of $169.44 million for the quarter, compared to analyst estimates of $172.41 million. EverCommerce had a negative return on equity of 5.35% and a negative net margin of 6.75%. On average, equities research analysts forecast that EverCommerce Inc. will post -0.14 EPS for the current year.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 4,016 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $9.00, for a total transaction of $36,144.00. Following the sale, the chief executive officer now directly owns 1,292,061 shares in the company, valued at $11,628,549. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 22,345 shares of company stock valued at $209,568. 11.50% of the stock is currently owned by corporate insiders.

Institutional Trading of EverCommerce

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of EverCommerce by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 1,634,461 shares of the company’s stock worth $18,028,000 after buying an additional 6,244 shares during the period. Barclays PLC increased its stake in shares of EverCommerce by 595.5% during the fourth quarter. Barclays PLC now owns 32,054 shares of the company’s stock worth $353,000 after buying an additional 27,445 shares during the period. Voya Investment Management LLC purchased a new position in EverCommerce in the fourth quarter valued at approximately $112,000. Occudo Quantitative Strategies LP increased its stake in EverCommerce by 22.7% in the fourth quarter. Occudo Quantitative Strategies LP now owns 13,008 shares of the company’s stock valued at $143,000 after purchasing an additional 2,410 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in EverCommerce by 113.9% in the fourth quarter. Royal Bank of Canada now owns 8,284 shares of the company’s stock valued at $91,000 after purchasing an additional 4,412 shares during the last quarter. 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.