Insider Selling: EverCommerce Inc. (NASDAQ:EVCM) CEO Sells 12,432 Shares of Stock

Key Points

• Eric Richard Remer, CEO of EverCommerce Inc. (NASDAQ:EVCM), sold a total of 12,432 shares at an average price of $10.09, amounting to $125,438.88, which reduced his ownership by 0.24%.
• EverCommerce shares are currently trading at $11.28, up from a 52-week low of $8.10, with the company holding a market capitalization of $2.06 billion.
• The company recently reported earnings of $0.01 EPS for the last quarter, falling short of analyst estimates, along with a 16.3% decline in revenue year-over-year.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 12,432 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $10.09, for a total transaction of $125,438.88. Following the completion of the transaction, the chief executive officer owned 5,254,231 shares in the company, valued at approximately $53,015,190.79. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, August 6th, Eric Richard Remer sold 12,068 shares of EverCommerce stock. The shares were sold at an average price of $10.16, for a total transaction of $122,610.88.
• On Wednesday, July 30th, Eric Richard Remer sold 12,639 shares of EverCommerce stock. The stock was sold at an average price of $11.12, for a total transaction of $140,545.68.
• On Tuesday, July 29th, Eric Richard Remer sold 11,861 shares of EverCommerce stock. The stock was sold at an average price of $11.39, for a total transaction of $135,096.79.
• On Wednesday, July 23rd, Eric Richard Remer sold 4,753 shares of EverCommerce stock. The shares were sold at an average price of $11.43, for a total value of $54,326.79.
• On Tuesday, July 22nd, Eric Richard Remer sold 19,747 shares of EverCommerce stock. The stock was sold at an average price of $11.40, for a total value of $225,115.80.
• On Wednesday, July 16th, Eric Richard Remer sold 9,527 shares of EverCommerce stock. The stock was sold at an average price of $10.55, for a total value of $100,509.85.
• On Tuesday, July 15th, Eric Richard Remer sold 14,973 shares of EverCommerce stock. The stock was sold at an average price of $10.65, for a total transaction of $159,462.45.
• On Wednesday, July 9th, Eric Richard Remer sold 8,204 shares of EverCommerce stock. The stock was sold at an average price of $10.70, for a total value of $87,782.80.
• On Tuesday, July 8th, Eric Richard Remer sold 16,296 shares of EverCommerce stock. The stock was sold at an average price of $10.75, for a total value of $175,182.00.
• On Wednesday, June 25th, Eric Richard Remer sold 4,789 shares of EverCommerce stock. The stock was sold at an average price of $10.02, for a total transaction of $47,985.78.

EverCommerce Price Performance

Shares of EVCM traded up $1.01 during mid-day trading on Thursday, reaching $11.28. 268,494 shares of the company's stock were exchanged, compared to its average volume of 195,787. EverCommerce Inc. has a 52-week low of $8.10 and a 52-week high of $12.34. The company has a 50-day simple moving average of $10.49 and a two-hundred day simple moving average of $10.25. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -93.99 and a beta of 1.06. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.70.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The company had revenue of $142.27 million during the quarter, compared to the consensus estimate of $146.28 million. EverCommerce had a negative net margin of 3.27% and a negative return on equity of 1.95%. The business's quarterly revenue was down 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, sell-side analysts predict that EverCommerce Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of EverCommerce

Several hedge funds and other institutional investors have recently bought and sold shares of EVCM. BNP Paribas Financial Markets bought a new position in EverCommerce during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC lifted its position in shares of EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock valued at $38,000 after buying an additional 2,040 shares during the last quarter. Deutsche Bank AG raised its position in shares of EverCommerce by 919.0% in the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after purchasing an additional 3,667 shares during the period. EntryPoint Capital LLC bought a new stake in shares of EverCommerce during the 1st quarter valued at approximately $102,000. Finally, Wells Fargo & Company MN lifted its stake in EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock valued at $116,000 after purchasing an additional 3,106 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EVCM has been the subject of several recent analyst reports. Barclays upped their price objective on shares of EverCommerce from $9.00 to $11.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Oppenheimer restated an "outperform" rating and set a $13.00 target price (up previously from $12.00) on shares of EverCommerce in a report on Thursday. Finally, Canaccord Genuity Group upped their price objective on shares of EverCommerce from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.45.

About EverCommerce

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company's solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.

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