EverCommerce (NASDAQ:EVCM) Director Sells 29,119 Shares

Key Points

• EverCommerce director Eric Richard Remer sold 29,119 shares at an average price of $10.01, generating $291,481.19. His remaining stake totals 5,482,246 shares, valued at approximately $54.9 million.
• Remer has made multiple additional sales since mid-July, indicating a continued reduction in his position. The latest transaction reduced his holdings by 0.53%.
• EverCommerce shares closed at $9.98, while the company’s latest quarterly earnings missed analysts’ expectations. Analysts maintain a consensus “Hold” rating with an average price target of $11.00.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) Director Eric Richard Remer sold 29,119 shares of EverCommerce stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $10.01, for a total transaction of $291,481.19. Following the transaction, the director owned 5,482,246 shares in the company, valued at approximately $54,877,282.46. This trade represents a 0.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, August 14th, Eric Richard Remer sold 23,947 shares of EverCommerce stock. The stock was sold at an average price of $10.03, for a total value of $240,188.41.
• 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 Wednesday, August 12th, Eric Richard Remer sold 24,802 shares of EverCommerce stock. The stock was sold at an average price of $9.87, for a total value of $244,795.74.
• On Tuesday, August 11th, Eric Richard Remer sold 25,252 shares of EverCommerce stock. The stock was 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 shares were 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 stock was 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 shares were 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.

EverCommerce Price Performance

EVCM traded down $0.18 during trading on Tuesday, hitting $9.98. 112,529 shares of the company traded hands, compared to its average volume of 147,028. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.76 billion, a PE ratio of 55.44, a P/E/G ratio of 0.99 and a beta of 0.91. The stock's 50-day simple moving average is $10.39 and its two-hundred day simple moving average is $10.80. EverCommerce Inc. has a 1 year low of $7.66 and a 1 year high of $14.41.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). The company had revenue of $152.02 million during the quarter, compared to analysts' expectations of $152.29 million. EverCommerce had a return on equity of 3.95% and a net margin of 5.69%.The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS. As a group, sell-side analysts anticipate that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

EVCM has been the subject of a number of research reports. Royal Bank Of Canada lowered their target price on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $14.00 price target on shares of EverCommerce in a research report on Friday, May 8th. Canaccord Genuity Group increased their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Weiss Ratings cut shares of EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Finally, Barclays boosted their target price on shares of EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $11.00.

Institutional Trading of EverCommerce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new stake in EverCommerce in the second quarter worth $125,000. Prudential Financial Inc. lifted its holdings in shares of EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after acquiring an additional 1,190 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of EverCommerce in the 2nd quarter worth about $144,000. O Shaughnessy Asset Management LLC purchased a new position in shares of EverCommerce during the 4th quarter worth about $177,000. Finally, BNP Paribas Financial Markets boosted 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 worth $171,000 after purchasing an additional 13,734 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

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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