Insider Selling: EverCommerce (NASDAQ:EVCM) Director Sells 21,821 Shares of Stock

Key Points

• EverCommerce director Eric Richard Remer sold 21,821 shares at an average price of $8.98, generating approximately $195,953. Following the transaction, he still directly owned 5.36 million shares valued at about $48.1 million.
• Remer has conducted multiple additional sales since August 12, totaling more than 200,000 shares, while EverCommerce shares recently rose 3.5% to $9.34. The stock remains below its 50-day and 200-day moving averages.
• EverCommerce’s latest quarterly EPS of $0.05 missed the $0.15 consensus estimate, although revenue increased 2.7% year over year. Analysts maintain an average “Hold” rating with a consensus price target of $11.00.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) Director Eric Richard Remer sold 21,821 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $8.98, for a total transaction of $195,952.58. Following the sale, the director directly owned 5,361,696 shares of the company's stock, valued at approximately $48,148,030.08. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 transaction of $134,848.56.
• On Tuesday, August 25th, Eric Richard Remer sold 20,710 shares of EverCommerce stock. The shares were 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 value of $259,463.40.
• On Wednesday, August 19th, Eric Richard Remer sold 20,913 shares of EverCommerce stock. The shares were sold at an average price of $10.17, for a total value 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 value of $291,481.19.
• 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 shares were sold at an average price of $9.87, for a total value of $244,795.74.

EverCommerce Trading Up 3.5%

NASDAQ:EVCM traded up $0.32 during mid-day trading on Thursday, hitting $9.34. The company had a trading volume of 87,095 shares, compared to its average volume of 145,804. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. EverCommerce Inc. has a fifty-two week low of $7.66 and a fifty-two week high of $14.41. The firm has a market cap of $1.65 billion, a P/E ratio of 51.89, a P/E/G ratio of 0.87 and a beta of 0.91. The business's fifty day moving average is $10.46 and its two-hundred day moving average is $10.71.

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

Hedge Funds Weigh In On EverCommerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of EverCommerce by 5.1% during the 4th quarter. Barclays PLC now owns 22,854 shares of the company's stock worth $277,000 after buying an additional 1,101 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of EverCommerce by 149.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company's stock valued at $197,000 after acquiring an additional 1,187 shares in the last quarter. Prudential Financial Inc. increased its position in shares of EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock valued at $142,000 after acquiring an additional 1,190 shares during the last quarter. American Century Companies Inc. increased its position in shares of EverCommerce by 19.8% in the second quarter. American Century Companies Inc. now owns 27,649 shares of the company's stock valued at $290,000 after acquiring an additional 4,576 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in 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 acquiring an additional 7,085 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EVCM shares. Weiss Ratings reissued a "hold (c-)" rating on shares of EverCommerce in a research report on Friday, August 21st. Barclays upped their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a research report on Thursday, August 6th. 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 target price on shares of EverCommerce in a report on Friday, May 8th. Finally, Canaccord Genuity Group boosted their target price on EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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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