EverCommerce (NASDAQ:EVCM) Shares Gap Down Following Insider Selling

Key Points

• Shares of EverCommerce gapped down, opening at $11.28 from $12.00 and last trading at $11.44 after the market reacted to recent insider selling.
• CEO Eric Richard Remer sold a total of 19,200 shares across April 21–23 under a pre-arranged Rule 10b5-1 plan, generating roughly $229,000 and reducing his stake by only about 0.2% overall.
• Analysts hold a consensus Hold rating with a $10.71 target; EverCommerce reported Q1 EPS of $0.03 (missing estimates by $0.01) and revenue of $151.15M, with a market cap near $2.03B and a P/E of 127.13.

Shares of EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $12.00, but opened at $11.28. EverCommerce shares last traded at $11.44, with a volume of 13,441 shares trading hands.

Specifically, CEO Eric Richard Remer sold 5,503 shares of EverCommerce stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $11.55, for a total transaction of $63,559.65. Following the sale, the chief executive officer owned 2,934,123 shares in the company, valued at $33,889,120.65. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Richard Remer sold 5,443 shares of EverCommerce stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $11.99, for a total transaction of $65,261.57. Following the sale, the chief executive officer owned 2,939,626 shares in the company, valued at $35,246,115.74. This represents a 0.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other news, CEO Eric Richard Remer sold 8,254 shares of EverCommerce stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $12.11, for a total transaction of $99,955.94. Following the sale, the chief executive officer owned 2,945,069 shares in the company, valued at $35,664,785.59. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of research firms have recently issued reports on EVCM. Wall Street Zen upgraded shares of EverCommerce from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. Weiss Ratings upgraded shares of EverCommerce from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday, March 13th. Raymond James Financial lowered shares of EverCommerce from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 6th. Canaccord Genuity Group dropped their price objective on shares of EverCommerce from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, March 13th. Finally, Citizens Jmp lowered shares of EverCommerce from an "outperform" rating to a "market perform" rating in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, EverCommerce currently has a consensus rating of "Hold" and a consensus target price of $10.71.

EverCommerce Price Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 127.13, a P/E/G ratio of 2.65 and a beta of 1.01. The business's 50-day moving average price is $11.26 and its two-hundred day moving average price is $11.08.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). EverCommerce had a return on equity of 2.49% and a net margin of 2.99%.The company had revenue of $151.15 million for the quarter, compared to analyst estimates of $150.06 million. During the same period in the previous year, the business posted ($0.07) EPS. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts forecast that EverCommerce Inc. will post 0.23 EPS for the current fiscal year.

Institutional Trading of EverCommerce

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its position in shares of EverCommerce by 5.1% during the fourth quarter. Barclays PLC now owns 22,854 shares of the company's stock worth $277,000 after buying an additional 1,101 shares in the last quarter. Prudential Financial Inc. grew its position in shares of 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 buying an additional 1,190 shares in the last quarter. Federated Hermes Inc. grew its position in shares of EverCommerce by 118.3% during the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company's stock worth $34,000 after buying an additional 1,667 shares in the last quarter. American Century Companies Inc. grew its position in shares of EverCommerce by 19.8% during the second quarter. American Century Companies Inc. now owns 27,649 shares of the company's stock worth $290,000 after buying an additional 4,576 shares in the last quarter. Finally, Wells Fargo & Company MN grew 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 worth $198,000 after buying an additional 7,085 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

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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