Eric Richard Remer Sells 20,913 Shares of EverCommerce (NASDAQ:EVCM) Stock

Key Points

• Director Eric Richard Remer sold 20,913 EverCommerce shares at an average price of $10.17, generating $212,685.21. He retained 5.46 million shares, and the sale reduced his ownership by 0.38%.
• EverCommerce shares fell 4.3% to $9.68. The company’s latest quarterly results missed earnings expectations, reporting $0.05 in EPS versus the $0.15 consensus estimate, while revenue rose 2.7% year over year to $152.02 million.
• Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $11.00. Institutional investors own 97.91% of the company, with several firms recently initiating or expanding positions.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) Director Eric Richard Remer sold 20,913 shares of EverCommerce stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $10.17, for a total transaction of $212,685.21. Following the completion of the sale, the director owned 5,461,333 shares in the company, valued at $55,541,756.61. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eric Richard Remer also recently made the following trade(s):

• On Thursday, August 20th, Eric Richard Remer sold 26,530 shares of EverCommerce stock. The shares were sold at an average price of $9.78, for a total transaction of $259,463.40.
• On Tuesday, August 18th, Eric Richard Remer sold 29,119 shares of EverCommerce stock. The shares were sold at an average price of $10.01, for a total transaction of $291,481.19.
• On Friday, August 14th, Eric Richard Remer sold 23,947 shares of EverCommerce stock. The stock was sold at an average price of $10.03, for a total transaction of $240,188.41.
• On Thursday, August 13th, Eric Richard Remer sold 17,285 shares of EverCommerce stock. The stock was sold at an average price of $10.00, for a total transaction of $172,850.00.
• On Wednesday, August 12th, Eric Richard Remer sold 24,802 shares of EverCommerce stock. The stock was sold at an average price of $9.87, for a total transaction of $244,795.74.
• On Tuesday, August 11th, Eric Richard Remer sold 25,252 shares of EverCommerce stock. The shares were sold at an average price of $9.89, for a total value of $249,742.28.
• On Wednesday, August 5th, Eric Richard Remer sold 5,757 shares of EverCommerce stock. The shares were sold at an average price of $11.83, for a total value of $68,105.31.
• On Tuesday, August 4th, Eric Richard Remer sold 13,443 shares of EverCommerce stock. The stock was sold at an average price of $11.85, for a total value of $159,299.55.
• On Wednesday, July 29th, Eric Richard Remer sold 8,709 shares of EverCommerce stock. The shares were sold at an average price of $11.97, for a total value of $104,246.73.
• On Tuesday, July 28th, Eric Richard Remer sold 10,491 shares of EverCommerce stock. The shares were sold at an average price of $12.07, for a total value of $126,626.37.

EverCommerce Stock Down 4.3%

Shares of NASDAQ:EVCM traded down $0.43 during trading on Thursday, hitting $9.68. 116,099 shares of the company were exchanged, compared to its average volume of 146,864. EverCommerce Inc. has a fifty-two week low of $7.66 and a fifty-two week high of $14.41. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 53.78, a P/E/G ratio of 0.97 and a beta of 0.91. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $10.43 and a two-hundred day moving average price of $10.77.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The company had revenue of $152.02 million during the quarter, compared to analyst estimates of $152.29 million. During the same period in the previous year, the company posted $0.04 EPS. The company's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in EverCommerce in the 2nd quarter valued at about $10,724,000. CoreCap Advisors LLC acquired a new stake in EverCommerce during the second quarter worth approximately $2,716,000. Goldman Sachs Group Inc. lifted its holdings in EverCommerce by 94.7% during the 4th 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 last quarter. Lazard Asset Management LLC boosted its stake in EverCommerce by 5,995.2% in the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company's stock valued at $523,000 after purchasing an additional 49,041 shares during the period. Finally, Zacks Investment Management bought a new stake in EverCommerce in the 3rd quarter valued at $418,000. Institutional investors and hedge funds own 97.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EVCM. Weiss Ratings downgraded shares of EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $14.00 target price on shares of EverCommerce in a report on Friday, May 8th. Wall Street Zen downgraded shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Barclays lifted their price target on EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a report on Thursday, August 6th. Finally, Canaccord Genuity Group boosted their price target on EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.

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