Insider Selling: EverCommerce (NASDAQ:EVCM) Director Sells 20,710 Shares

Key Points

• EverCommerce director Eric Richard Remer sold 20,710 shares at an average price of $9.13, worth approximately $189,082. He retained 5.38 million shares, and the sale reduced his ownership by 0.38%.
• Remer has made a series of additional sales since August 12, totaling more than 200,000 shares, indicating sustained insider selling activity.
• EVCM recently traded at $9.34, below its 50-day and 200-day moving averages. The company’s latest quarterly EPS of $0.05 missed estimates by $0.10, while analysts maintain an average “Hold” rating and an $11 price target.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) Director Eric Richard Remer sold 20,710 shares of EverCommerce stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $9.13, for a total value of $189,082.30. Following the transaction, the director directly owned 5,383,517 shares in the company, valued at approximately $49,151,510.21. The trade was a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 stock was sold at an average price of $8.98, for a total transaction of $195,952.58.
• 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 stock was 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 shares were sold at an average price of $10.01, for a total transaction of $291,481.19.
• On Friday, August 14th, Eric Richard Remer sold 23,947 shares of EverCommerce stock. The shares were sold at an average price of $10.03, for a total transaction of $240,188.41.
• On Thursday, August 13th, Eric Richard Remer sold 17,285 shares of EverCommerce stock. The stock was sold at an average price of $10.00, for a total transaction 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.

EverCommerce Price Performance

EVCM stock traded up $0.32 during trading on Thursday, reaching $9.34. The company's stock had a trading volume of 87,095 shares, compared to its average volume of 145,804. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The company's fifty day moving average is $10.46 and its 200-day moving average is $10.71. The company has a market capitalization of $1.65 billion, a P/E ratio of 51.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91. 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 data on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). The business had revenue of $152.02 million during the quarter, compared to analysts' expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. EverCommerce's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. On average, research analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EVCM. Bank of America Corp DE purchased a new position in shares of EverCommerce in the second quarter valued at $125,000. 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 valued at $142,000 after purchasing an additional 1,190 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of EverCommerce in the 2nd quarter worth $144,000. Oxford Asset Management LLP bought a new stake in shares of EverCommerce in the 2nd quarter worth about $168,000. Finally, BNP Paribas Financial Markets raised its position 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 valued at $171,000 after buying an additional 13,734 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen downgraded EverCommerce from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $14.00 price objective on shares of EverCommerce in a research report on Friday, May 8th. Canaccord Genuity Group boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Barclays upped their target price on shares of EverCommerce from $8.50 to $10.00 and gave the stock an "underweight" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of EverCommerce in a research note on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, EverCommerce has an average rating of "Hold" and an average target price of $11.00.

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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