EverCommerce (NASDAQ:EVCM) CEO Sells $184,710.60 in Stock

Key Points

• EverCommerce CEO Eric Richard Remer sold 17,295 shares on July 1 for about $184,710.60 at an average price of $10.68. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still holds more than 5.7 million shares.
• The stock fell 6.3% to $9.98 in Thursday trading, with volume above its average. EverCommerce now has a market cap of about $1.77 billion and is trading below both its 50-day and 200-day moving averages.
• The company’s latest quarterly results showed earnings missed expectations, with EPS of $0.04 versus the $0.14 consensus, though revenue came in roughly in line at $147.47 million. Analysts currently have a Hold consensus rating and an average price target of $11.25.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 17,295 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $10.68, for a total transaction of $184,710.60. Following the sale, the chief executive officer owned 5,718,412 shares of the company's stock, valued at approximately $61,072,640.16. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 30th, Eric Richard Remer sold 14,800 shares of EverCommerce stock. The shares were sold at an average price of $9.89, for a total transaction of $146,372.00.
• 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 value 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 shares were sold at an average price of $9.08, for a total value 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 transaction 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 transaction of $48,375.00.
• On Wednesday, May 27th, Eric Richard Remer sold 5,974 shares of EverCommerce stock. The shares were 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 transaction of $92,321.08.

EverCommerce Trading Down 6.3%

EVCM stock traded down $0.67 during midday trading on Thursday, hitting $9.98. The stock had a trading volume of 214,156 shares, compared to its average volume of 158,249. The firm has a market cap of $1.77 billion, a PE ratio of 58.71, a price-to-earnings-growth ratio of 2.26 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.08 and a quick ratio of 2.08. EverCommerce Inc. has a 12-month low of $7.66 and a 12-month high of $14.41. The company's 50-day moving average price is $10.17 and its 200 day moving average price is $11.07.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL boosted its holdings in EverCommerce by 200.7% in the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company's stock worth $1,397,000 after purchasing an additional 83,794 shares during the period. JPMorgan Chase & Co. lifted its holdings in EverCommerce by 11.9% in the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company's stock worth $1,107,000 after acquiring an additional 11,996 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 worth $1,266,000 after purchasing an additional 50,854 shares during the period. Los Angeles Capital Management LLC boosted its position in 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 purchasing an additional 34,979 shares during the period. Finally, XTX Topco Ltd grew its position in shares of EverCommerce by 110.4% during the fourth quarter. XTX Topco Ltd now owns 51,877 shares of the company's stock worth $628,000 after acquiring an additional 27,224 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EVCM. Weiss Ratings downgraded shares of EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Royal Bank Of Canada dropped their price target on shares of EverCommerce from $12.00 to $11.00 and set a "sector perform" rating for the company in a research report on Friday, March 13th. Wall Street Zen lowered shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Citizens Jmp lowered EverCommerce from an "outperform" rating to a "market perform" rating in a research report on Friday, March 13th. Finally, 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. 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $11.25.

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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