Eric Richard Remer Sells 24,802 Shares of EverCommerce (NASDAQ:EVCM) Stock

Key Points

• EverCommerce CEO Eric Richard Remer sold 24,802 shares at an average price of $9.87, receiving $244,795.74. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his direct ownership by 0.44% to 5.55 million shares.
• EverCommerce shares rose 1.4% to $10.11, but the company recently reported quarterly EPS of $0.05, missing analysts’ $0.15 estimate, while revenue of $152.02 million was essentially in line with expectations.
• Analysts maintain a consensus “Hold” rating with an average price target of $11.00. Institutional investors own 97.91% of the stock, with recent buying from BlackRock and CoreCap Advisors.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 24,802 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $9.87, for a total transaction of $244,795.74. Following the transaction, the chief executive officer directly owned 5,552,597 shares of the company's stock, valued at approximately $54,804,132.39. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 13th, Eric Richard Remer sold 17,285 shares of EverCommerce stock. The shares were sold at an average price of $10.00, for a total value of $172,850.00.
• 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 stock was 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 shares were 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 stock was 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 transaction of $126,626.37.
• On Tuesday, July 21st, Eric Richard Remer sold 12,100 shares of EverCommerce stock. The stock was sold at an average price of $11.27, for a total transaction of $136,367.00.
• On Tuesday, July 14th, Eric Richard Remer sold 19,200 shares of EverCommerce stock. The stock was sold at an average price of $10.77, for a total transaction of $206,784.00.
• On Wednesday, July 8th, Eric Richard Remer sold 8,742 shares of EverCommerce stock. The shares were sold at an average price of $9.86, for a total transaction of $86,196.12.
• On Tuesday, July 7th, Eric Richard Remer sold 11,269 shares of EverCommerce stock. The stock was sold at an average price of $10.08, for a total transaction of $113,591.52.

EverCommerce Trading Up 1.4%

EVCM traded up $0.14 during trading on Thursday, hitting $10.11. The company's stock had a trading volume of 120,913 shares, compared to its average volume of 147,023. The firm's 50 day moving average price is $10.34 and its 200-day moving average price is $10.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market cap of $1.79 billion, a PE ratio of 56.17, a PEG ratio of 0.88 and a beta of 0.91. EverCommerce Inc. has a twelve month low of $7.66 and a twelve month high of $14.41.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.10). The business had revenue of $152.02 million during the quarter, compared to analysts' expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. EverCommerce's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. On average, analysts expect that EverCommerce Inc. will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On EverCommerce

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in EverCommerce during the second quarter worth approximately $10,724,000. CoreCap Advisors LLC purchased a new position in shares of EverCommerce in the 2nd quarter valued at $2,716,000. JPMorgan Chase & Co. lifted its holdings in shares of EverCommerce by 11.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company's stock valued at $1,107,000 after acquiring an additional 11,996 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of EverCommerce by 94.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company's stock valued at $1,266,000 after acquiring an additional 50,854 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of EverCommerce by 111.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company's stock valued at $749,000 after acquiring an additional 34,979 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $14.00 target price on shares of EverCommerce in a research report on Friday, May 8th. Canaccord Genuity Group boosted their price target on EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Weiss Ratings lowered EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada cut their price objective on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $11.00.

EverCommerce Company Profile

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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