EverCommerce (NASDAQ:EVCM) CEO Eric Richard Remer Sells 13,542 Shares

Key Points

• EverCommerce CEO Eric Richard Remer sold 13,542 shares on June 2 at an average price of $10.53, worth about $142,597. The sale was part of a pre-arranged Rule 10b5-1 plan and was tied to tax withholding from vesting equity awards.
• Remer has been actively selling shares recently, with multiple additional transactions disclosed in late May and early June. After the latest sale, he still owned 2,809,084 shares valued at about $29.6 million.
• EverCommerce shares were under pressure, falling to $9.43 in Wednesday trading, while the company’s latest earnings report missed EPS estimates. Analysts currently rate the stock a consensus Hold, with an average price target of $11.25.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 13,542 shares of EverCommerce stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.53, for a total value of $142,597.26. Following the completion of the sale, the chief executive officer owned 2,809,084 shares of the company's stock, valued at $29,579,654.52. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, June 3rd, Eric Richard Remer sold 5,658 shares of EverCommerce stock. The stock was sold at an average price of $9.57, for a total value of $54,147.06.
• On Thursday, May 28th, Eric Richard Remer sold 4,500 shares of EverCommerce stock. The stock was sold at an average price of $10.75, for a total value of $48,375.00.
• On Wednesday, May 27th, Eric Richard Remer sold 5,974 shares of EverCommerce stock. The stock was sold at an average price of $10.53, for a total value of $62,906.22.
• On Tuesday, May 26th, Eric Richard Remer sold 8,726 shares of EverCommerce stock. The stock was sold at an average price of $10.58, for a total value of $92,321.08.
• On Thursday, May 21st, Eric Richard Remer sold 3,210 shares of EverCommerce stock. The stock was sold at an average price of $10.23, for a total value of $32,838.30.
• On Wednesday, May 20th, Eric Richard Remer sold 8,536 shares of EverCommerce stock. The stock was sold at an average price of $10.27, for a total value of $87,664.72.
• On Tuesday, May 19th, Eric Richard Remer sold 7,454 shares of EverCommerce stock. The stock was sold at an average price of $10.20, for a total value of $76,030.80.
• On Tuesday, May 12th, Eric Richard Remer sold 10,055 shares of EverCommerce stock. The stock was sold at an average price of $10.25, for a total value of $103,063.75.
• On Wednesday, May 13th, Eric Richard Remer sold 9,145 shares of EverCommerce stock. The shares were sold at an average price of $9.66, for a total value of $88,340.70.
• On Wednesday, May 6th, Eric Richard Remer sold 7,208 shares of EverCommerce stock. The shares were sold at an average price of $10.72, for a total value of $77,269.76.

EverCommerce Stock Performance

Shares of EverCommerce stock traded down $0.80 during trading hours on Wednesday, reaching $9.43. 189,208 shares of the stock traded hands, compared to its average volume of 136,379. The company has a 50 day moving average price of $11.23 and a 200 day moving average price of $11.04. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 55.47, a P/E/G ratio of 2.39 and a beta of 0.92. EverCommerce Inc. has a one year low of $7.66 and a one year high of $14.41. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.72.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.10). The firm had revenue of $147.47 million for the quarter, compared to the consensus estimate of $147.18 million. EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. On average, equities research analysts expect that EverCommerce Inc. will post 0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on EVCM. Wall Street Zen upgraded EverCommerce from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. 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 note on Monday, May 11th. Weiss Ratings downgraded EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $14.00 price target on shares of EverCommerce in a research note on Friday, May 8th. Finally, Citizens Jmp downgraded EverCommerce from an "outperform" rating to a "market perform" rating in a research note on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. grew its stake in shares of EverCommerce by 118.3% during the 3rd quarter. Federated Hermes Inc. now owns 3,076 shares of the company's stock valued at $34,000 after acquiring an additional 1,667 shares during the period. R Squared Ltd bought a new position in shares of EverCommerce during the 3rd quarter valued at approximately $122,000. Prudential Financial Inc. grew its stake in shares of EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock valued at $142,000 after acquiring an additional 1,190 shares during the period. Oxford Asset Management LLP bought a new position in shares of EverCommerce during the 2nd quarter valued at approximately $168,000. Finally, BNP Paribas Financial Markets grew its stake in shares of EverCommerce by 863.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock valued at $171,000 after acquiring an additional 13,734 shares during the period. 97.91% of the stock is currently owned by institutional investors.

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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