Insider Selling: EverCommerce (NASDAQ:EVCM) Director Sells 23,824 Shares

Key Points

• EverCommerce director Eric Richard Remer sold 23,824 shares at an average price of $9.21, generating $219,419. The sale was made to cover tax-withholding obligations tied to vested equity awards, and he retained 5.32 million shares.
• Remer has made multiple additional sales in recent weeks, totaling substantial amounts, while EverCommerce shares traded at $8.07—near the lower end of their 52-week range of $7.66 to $14.41.
• The company’s latest quarterly earnings fell short of expectations, with EPS of $0.05 versus the $0.15 consensus estimate. Analysts have an overall “Hold” rating and an average price target of $11.00.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) Director Eric Richard Remer sold 23,824 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $9.21, for a total value of $219,419.04. Following the transaction, the director directly owned 5,323,278 shares in the company, valued at $49,027,390.38. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Tuesday, September 1st, Eric Richard Remer sold 47,353 shares of EverCommerce stock. The shares were sold at an average price of $8.24, for a total value of $390,188.72.
• On Monday, August 31st, Eric Richard Remer sold 40,906 shares of EverCommerce stock. The shares were sold at an average price of $8.91, for a total transaction of $364,472.46.
• On Thursday, August 27th, Eric Richard Remer sold 14,594 shares of EverCommerce stock. The stock was sold at an average price of $9.24, for a total transaction 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 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 shares were 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.

EverCommerce Stock Performance

NASDAQ:EVCM traded down $0.80 during mid-day trading on Tuesday, hitting $8.07. The stock had a trading volume of 221,206 shares, compared to its average volume of 145,913. EverCommerce Inc. has a twelve month low of $7.66 and a twelve month high of $14.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 44.83, a PEG ratio of 0.90 and a beta of 0.91. The company's 50 day simple moving average is $10.47 and its 200 day simple moving average is $10.68.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results 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 business 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 period last year, the firm earned $0.04 EPS. On average, equities research analysts forecast that EverCommerce Inc. will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in EverCommerce during the 2nd quarter worth $10,724,000. CoreCap Advisors LLC bought a new stake in shares of EverCommerce in the second quarter valued at about $2,716,000. Goldman Sachs Group Inc. grew its stake in shares of EverCommerce by 94.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company's stock valued at $1,266,000 after acquiring an additional 50,854 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of 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 in the last quarter. Finally, Zacks Investment Management bought a new position in EverCommerce during the third quarter worth about $418,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EVCM. Canaccord Genuity Group boosted their target price on EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Barclays raised their price target on EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of EverCommerce in a report on Friday, August 21st. Royal Bank Of Canada dropped their price objective on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 6th. Finally, Wall Street Zen cut shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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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