EverCommerce (NASDAQ:EVCM) CEO Sells 14,800 Shares of Stock

Key Points

• EverCommerce CEO Eric Richard Remer sold 14,800 shares on June 30 at an average price of $9.89, worth about $146,372, as part of a pre-arranged Rule 10b5-1 trading plan.
• Remer has also been selling shares repeatedly in recent weeks, including additional sales on July 1 and throughout late May and June, reducing his ownership slightly while still holding more than 5.7 million shares.
• EVCM shares fell 6.3% to $9.98 in Thursday trading; the company recently missed EPS estimates in its latest earnings report, though revenue came in roughly in line with expectations.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 14,800 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $9.89, for a total value of $146,372.00. Following the completion of the transaction, the chief executive officer owned 5,735,707 shares of the company's stock, valued at $56,726,142.23. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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, July 1st, Eric Richard Remer sold 17,295 shares of EverCommerce stock. The shares were sold at an average price of $10.68, for a total transaction of $184,710.60.
• On Tuesday, June 23rd, Eric Richard Remer sold 1,100 shares of EverCommerce stock. The stock was sold at an average price of $9.03, for a total transaction of $9,933.00.
• On Tuesday, June 16th, Eric Richard Remer sold 4,644 shares of EverCommerce stock. The shares were sold at an average price of $9.05, for a total transaction of $42,028.20.
• On Wednesday, June 10th, Eric Richard Remer sold 7,517 shares of EverCommerce stock. The stock was sold at an average price of $9.15, for a total transaction of $68,780.55.
• On Tuesday, June 9th, Eric Richard Remer sold 11,683 shares of EverCommerce stock. The stock was sold at an average price of $9.08, for a total transaction of $106,081.64.
• On Wednesday, June 3rd, Eric Richard Remer sold 5,658 shares of EverCommerce stock. The shares were sold at an average price of $9.57, for a total value of $54,147.06.
• On Tuesday, June 2nd, Eric Richard Remer sold 13,542 shares of EverCommerce stock. The stock was sold at an average price of $10.53, for a total transaction of $142,597.26.
• On Thursday, May 28th, Eric Richard Remer sold 4,500 shares of EverCommerce stock. The shares were 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 transaction 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.

EverCommerce Trading Down 6.3%

EVCM stock traded down $0.67 during midday trading on Thursday, reaching $9.98. The stock had a trading volume of 214,156 shares, compared to its average volume of 158,249. 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 Inc. has a twelve month low of $7.66 and a twelve month high of $14.41. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 58.71, a PEG ratio of 2.26 and a beta of 0.93. The business has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $11.07.

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

Wall Street Analyst Weigh In

EVCM has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a report on Monday, May 11th. The Goldman Sachs Group reduced their price target on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 13th. Wall Street Zen cut shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 14th. Weiss Ratings downgraded EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Finally, Citizens Jmp cut EverCommerce from an "outperform" rating to a "market perform" rating in a report on Friday, March 13th. Three 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 stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $11.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EVCM. JPMorgan Chase & Co. lifted its position 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 during the period. American Century Companies Inc. raised its stake in EverCommerce by 19.8% in the second quarter. American Century Companies Inc. now owns 27,649 shares of the company's stock valued at $290,000 after purchasing an additional 4,576 shares in the last quarter. Prudential Financial Inc. lifted its position in EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after purchasing an additional 1,190 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in EverCommerce during the second quarter worth about $302,000. Finally, Lazard Asset Management LLC increased its holdings 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 buying an additional 49,041 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

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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