Insider Selling: EverCommerce (NASDAQ:EVCM) Director Sells $364,472.46 in Stock

Key Points

• EverCommerce director Eric Richard Remer sold 40,906 shares for approximately $364,472 at an average price of $8.91. The sale was reportedly made to cover tax withholding tied to vested equity awards, leaving him with about 5.07 million shares.
• Remer has made multiple additional sales recently, including more than 47,000 shares on September 1, continuing a series of insider transactions throughout late August.
• EverCommerce shares recently traded at $8.07, near their 12-month low, after the company missed quarterly EPS estimates. 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 40,906 shares of the firm's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $8.91, for a total value of $364,472.46. Following the sale, the director directly owned 5,070,145 shares in the company, valued at approximately $45,174,991.95. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 stock was 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 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 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 stock was 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 shares were 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 Price Performance

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

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 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 for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. Equities analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVCM. Barclays PLC raised its stake in EverCommerce by 5.1% in the 4th quarter. Barclays PLC now owns 22,854 shares of the company's stock valued at $277,000 after purchasing an additional 1,101 shares during the last quarter. California State Teachers Retirement System boosted its stake in EverCommerce by 149.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company's stock worth $197,000 after purchasing an additional 1,187 shares during the last quarter. Prudential Financial Inc. grew its holdings 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. American Century Companies Inc. grew its holdings 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 raised its position in shares of EverCommerce by 76.8% in the fourth quarter. Wells Fargo & Company MN now owns 16,311 shares of the company's stock valued at $198,000 after buying an additional 7,085 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

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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