EverCommerce (NASDAQ:EVCM) CEO Sells $103,063.75 in Stock

Key Points

• EverCommerce CEO Eric Richard Remer sold 10,055 shares on May 12 for about $103,063.75, as part of a pre-arranged Rule 10b5-1 trading plan. After the sale, he still owned 2,885,668 shares.
• The stock fell 4.1% to $9.70 in Wednesday trading, with volume above its average. EverCommerce now sits below both its 50-day and 200-day moving averages.
• EverCommerce’s latest quarterly results were mixed: EPS of $0.04 missed estimates, while revenue of $147.47 million was roughly in line and up 3.7% year over year. Analysts currently view the stock as a Hold on average, with a $11.25 target price.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 10,055 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $10.25, for a total transaction of $103,063.75. Following the completion of the sale, the chief executive officer directly owned 2,885,668 shares of the company's stock, valued at $29,578,097. This trade represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 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.
• On Tuesday, May 5th, Eric Richard Remer sold 11,992 shares of EverCommerce stock. The shares were sold at an average price of $11.17, for a total value of $133,950.64.
• On Thursday, April 30th, Eric Richard Remer sold 5,867 shares of EverCommerce stock. The shares were sold at an average price of $11.49, for a total value of $67,411.83.
• On Wednesday, April 29th, Eric Richard Remer sold 7,766 shares of EverCommerce stock. The shares were sold at an average price of $11.51, for a total value of $89,386.66.
• On Tuesday, April 28th, Eric Richard Remer sold 5,567 shares of EverCommerce stock. The shares were sold at an average price of $11.84, for a total value of $65,913.28.
• On Thursday, April 23rd, Eric Richard Remer sold 5,503 shares of EverCommerce stock. The shares were sold at an average price of $11.55, for a total value of $63,559.65.
• On Wednesday, April 22nd, Eric Richard Remer sold 5,443 shares of EverCommerce stock. The shares were sold at an average price of $11.99, for a total value of $65,261.57.
• On Tuesday, April 21st, Eric Richard Remer sold 8,254 shares of EverCommerce stock. The shares were sold at an average price of $12.11, for a total value of $99,955.94.
• On Thursday, April 16th, Eric Richard Remer sold 1,596 shares of EverCommerce stock. The shares were sold at an average price of $11.98, for a total value of $19,120.08.

EverCommerce Stock Down 4.1%

Shares of NASDAQ EVCM traded down $0.41 during trading hours on Wednesday, hitting $9.70. The stock had a trading volume of 128,329 shares, compared to its average volume of 101,189. The company has a market capitalization of $1.72 billion, a P/E ratio of 57.06, a P/E/G ratio of 2.29 and a beta of 0.94. The firm's 50-day moving average price is $11.45 and its two-hundred day moving average price is $11.09. EverCommerce Inc. has a 52 week low of $7.66 and a 52 week high of $14.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.11 and a current ratio of 2.08.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10). The firm had revenue of $147.47 million during 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 quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. Analysts anticipate that EverCommerce Inc. will post 0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EVCM shares. Citizens Jmp lowered EverCommerce from an "outperform" rating to a "market perform" rating in a report on Friday, March 13th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $14.00 target price on shares of EverCommerce in a report on Friday, May 8th. Royal Bank Of Canada reduced their target price on EverCommerce from $12.00 to $11.00 and set a "sector perform" rating for the company in a report on Friday, March 13th. The Goldman Sachs Group reduced their target price on EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday, March 13th. Finally, Canaccord Genuity Group boosted their target price on EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $11.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Tudor Investment Corp ET AL increased its position in shares of EverCommerce by 200.7% during the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company's stock valued at $1,397,000 after purchasing an additional 83,794 shares during the period. Wells Fargo & Company MN increased its position in shares of EverCommerce by 76.8% during the fourth quarter. Wells Fargo & Company MN now owns 16,311 shares of the company's stock valued at $198,000 after purchasing an additional 7,085 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of EverCommerce during the fourth quarter valued at approximately $177,000. BNP Paribas Financial Markets increased its position in shares of EverCommerce by 863.2% during the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock valued at $171,000 after purchasing an additional 13,734 shares during the period. Finally, Oxford Asset Management LLP bought a new stake in shares of EverCommerce during the second quarter valued at approximately $168,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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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