EverCommerce (NASDAQ:EVCM) Director Sells $390,188.72 in Stock

Key Points

• Director Eric Richard Remer sold 47,353 EverCommerce shares for $390,188.72, citing tax-withholding obligations tied to vested equity awards. He still directly owns 5.02 million shares valued at approximately $41.4 million.
• Remer has made a series of stock sales since August 18, totaling more than 230,000 shares, while EverCommerce shares fell 9.0% to $8.07 and traded near their 52-week low of $7.66.
• EverCommerce missed quarterly EPS estimates ($0.05 versus $0.15 expected), while revenue was roughly in line and rose 2.7% year over year. 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 47,353 shares of EverCommerce stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.24, for a total value of $390,188.72. Following the completion of the sale, the director directly owned 5,022,792 shares of the company's stock, valued at $41,387,806.08. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, August 31st, Eric Richard Remer sold 40,906 shares of EverCommerce stock. The stock was sold at an average price of $8.91, for a total value of $364,472.46.
• On Friday, August 28th, Eric Richard Remer sold 23,824 shares of EverCommerce stock. The shares were sold at an average price of $9.21, for a total value of $219,419.04.
• On Thursday, August 27th, Eric Richard Remer sold 14,594 shares of EverCommerce stock. The shares were sold at an average price of $9.24, for a total value of $134,848.56.
• On Wednesday, August 26th, Eric Richard Remer sold 21,821 shares of EverCommerce stock. The shares were sold at an average price of $8.98, for a total value of $195,952.58.
• On Tuesday, August 25th, Eric Richard Remer sold 20,710 shares of EverCommerce stock. The stock was sold at an average price of $9.13, for a total transaction of $189,082.30.
• On Monday, August 24th, Eric Richard Remer sold 13,974 shares of EverCommerce stock. The stock was sold at an average price of $9.57, for a total transaction of $133,731.18.
• On Friday, August 21st, Eric Richard Remer sold 16,602 shares of EverCommerce stock. The shares were sold at an average price of $9.63, for a total transaction of $159,877.26.
• On Thursday, August 20th, Eric Richard Remer sold 26,530 shares of EverCommerce stock. The shares were sold at an average price of $9.78, for a total transaction of $259,463.40.
• On Wednesday, August 19th, Eric Richard Remer sold 20,913 shares of EverCommerce stock. The stock was sold at an average price of $10.17, for a total transaction of $212,685.21.
• On Tuesday, August 18th, Eric Richard Remer sold 29,119 shares of EverCommerce stock. The stock was sold at an average price of $10.01, for a total transaction of $291,481.19.

EverCommerce Stock Down 9.0%

EVCM stock traded down $0.80 during midday trading on Tuesday, hitting $8.07. The company's stock had a trading volume of 221,206 shares, compared to its average volume of 145,913. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. EverCommerce Inc. has a 52-week low of $7.66 and a 52-week high of $14.41. The firm has a market capitalization of $1.43 billion, a P/E ratio of 44.83, a PEG ratio of 0.90 and a beta of 0.91. The firm has a 50-day simple moving average of $10.47 and a 200-day simple moving average of $10.68.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.10). The company had revenue of $152.02 million for 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 was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS. As a group, equities analysts forecast that EverCommerce Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On EverCommerce

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in EverCommerce in the second quarter valued at approximately $10,724,000. CoreCap Advisors LLC purchased a new stake in shares of EverCommerce during the 2nd quarter worth approximately $2,716,000. Goldman Sachs Group Inc. lifted 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 buying an additional 50,854 shares during the last quarter. Lazard Asset Management LLC lifted its position in EverCommerce by 5,995.2% in the second quarter. Lazard Asset Management LLC now owns 49,859 shares of the company's stock valued at $523,000 after acquiring an additional 49,041 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in EverCommerce in the third quarter valued at $418,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

Wall Street Analysts Forecast Growth

EVCM has been the subject of several recent research reports. Barclays lifted their price objective on EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a research note on Thursday, August 6th. Canaccord Genuity Group raised their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $14.00 price target on shares of EverCommerce in a research note on Friday, May 8th. Royal Bank Of Canada lowered their price target on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of EverCommerce in a research report on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $11.00.

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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