Insider Selling: EverCommerce (NASDAQ:EVCM) CEO Sells $193,290.00 in Stock

Key Points

• EverCommerce CEO Eric Richard Remer sold 18,950 shares on July 2 at an average price of $10.20, totaling $193,290. The sale was part of a pre-arranged Rule 10b5-1 trading plan, and it reduced his ownership by 0.33%.
• The CEO has been actively selling shares over the past several weeks, including multiple transactions in late May and June. Across the reported trades, he sold tens of thousands of shares at prices mostly around $9 to $10.75.
• EverCommerce shares rose 1.6% to $10.14 in Monday trading, but the stock remains below its 52-week high of $14.41. The company recently reported quarterly EPS of $0.04, missing analyst expectations even as revenue came in roughly in line.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 18,950 shares of the firm's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $10.20, for a total value of $193,290.00. Following the completion of the sale, the chief executive officer owned 5,699,462 shares in the company, valued at $58,134,512.40. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 1st, Eric Richard Remer sold 17,295 shares of EverCommerce stock. The shares were sold at an average price of $10.68, for a total transaction of $184,710.60.
• On Tuesday, June 30th, Eric Richard Remer sold 14,800 shares of EverCommerce stock. The stock was sold at an average price of $9.89, for a total value of $146,372.00.
• On Tuesday, June 23rd, Eric Richard Remer sold 1,100 shares of EverCommerce stock. The shares were sold at an average price of $9.03, for a total transaction of $9,933.00.
• On Tuesday, June 16th, Eric Richard Remer sold 4,644 shares of EverCommerce stock. The stock was sold at an average price of $9.05, for a total value of $42,028.20.
• On Wednesday, June 10th, Eric Richard Remer sold 7,517 shares of EverCommerce stock. The stock was sold at an average price of $9.15, for a total transaction of $68,780.55.
• On Tuesday, June 9th, Eric Richard Remer sold 11,683 shares of EverCommerce stock. The stock was sold at an average price of $9.08, for a total transaction of $106,081.64.
• On Wednesday, June 3rd, Eric Richard Remer sold 5,658 shares of EverCommerce stock. The shares were sold at an average price of $9.57, for a total value of $54,147.06.
• On Tuesday, June 2nd, Eric Richard Remer sold 13,542 shares of EverCommerce stock. The shares were sold at an average price of $10.53, for a total transaction of $142,597.26.
• On Thursday, May 28th, Eric Richard Remer sold 4,500 shares of EverCommerce stock. The shares were sold at an average price of $10.75, for a total value of $48,375.00.
• On Wednesday, May 27th, Eric Richard Remer sold 5,974 shares of EverCommerce stock. The shares were sold at an average price of $10.53, for a total value of $62,906.22.

EverCommerce Trading Up 1.6%

EverCommerce stock traded up $0.16 during trading hours on Monday, reaching $10.14. 171,381 shares of the company's stock traded hands, compared to its average volume of 141,819. 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 capitalization of $1.79 billion, a price-to-earnings ratio of 59.65 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.08 and a current ratio of 2.08. The firm's 50 day moving average is $10.13 and its 200-day moving average is $11.05.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.10). EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The firm had revenue of $147.47 million during the quarter, compared to the consensus estimate of $147.18 million. During the same quarter in the prior year, the company earned $0.01 EPS. EverCommerce's quarterly revenue was up 3.7% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of EverCommerce by 11.9% during the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company's stock valued at $1,107,000 after acquiring an additional 11,996 shares during the last quarter. American Century Companies Inc. raised its position in shares of EverCommerce by 19.8% in the 2nd quarter. American Century Companies Inc. now owns 27,649 shares of the company's stock worth $290,000 after acquiring an additional 4,576 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of EverCommerce by 9.6% during the 2nd 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. Occudo Quantitative Strategies LP bought a new position in EverCommerce during the second quarter worth $302,000. Finally, Lazard Asset Management LLC boosted its position in shares of EverCommerce by 5,995.2% during the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company's stock worth $523,000 after purchasing an additional 49,041 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on EVCM. Oppenheimer reaffirmed an "outperform" rating on shares of EverCommerce in a report on Friday, March 13th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $14.00 price objective on shares of EverCommerce in a report on Friday, May 8th. Wall Street Zen lowered EverCommerce from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. The Goldman Sachs Group reduced their price target on EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 13th. Finally, Weiss Ratings lowered EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $11.25.

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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