Insider Selling: EverCommerce (NASDAQ:EVCM) CEO Sells 4,536 Shares of Stock

Key Points

• EverCommerce CEO Eric Richard Remer sold 4,536 shares at an average price of $11.02, totaling nearly $50,000, which reduced his ownership to approximately 3.07 million shares.
• EverCommerce's stock price fell by 2.6% recently, closing at $10.84, while the company holds a market cap of about $1.97 billion.
• Analysts mostly have a positive outlook on EverCommerce, with a consensus rating of "Moderate Buy" and an average price target of $11.50.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 4,536 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $11.02, for a total value of $49,986.72. Following the completion of the transaction, the chief executive officer owned 3,069,524 shares of the company's stock, valued at $33,826,154.48. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, September 30th, Eric Richard Remer sold 14,664 shares of EverCommerce stock. The shares were sold at an average price of $11.13, for a total value of $163,210.32.
• On Wednesday, September 24th, Eric Richard Remer sold 428 shares of EverCommerce stock. The shares were sold at an average price of $11.65, for a total value of $4,986.20.
• On Tuesday, September 23rd, Eric Richard Remer sold 18,772 shares of EverCommerce stock. The shares were sold at an average price of $11.71, for a total value of $219,820.12.
• On Wednesday, September 17th, Eric Richard Remer sold 4,131 shares of EverCommerce stock. The shares were sold at an average price of $11.86, for a total value of $48,993.66.
• On Tuesday, September 16th, Eric Richard Remer sold 15,069 shares of EverCommerce stock. The shares were sold at an average price of $11.85, for a total value of $178,567.65.
• On Wednesday, September 3rd, Eric Richard Remer sold 4,079 shares of EverCommerce stock. The shares were sold at an average price of $11.13, for a total value of $45,399.27.
• On Tuesday, September 2nd, Eric Richard Remer sold 20,421 shares of EverCommerce stock. The shares were sold at an average price of $11.23, for a total value of $229,327.83.
• On Wednesday, August 13th, Eric Richard Remer sold 2,361 shares of EverCommerce stock. The shares were sold at an average price of $10.70, for a total value of $25,262.70.
• On Tuesday, August 12th, Eric Richard Remer sold 22,139 shares of EverCommerce stock. The shares were sold at an average price of $10.54, for a total value of $233,345.06.
• 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 value of $122,610.88.

EverCommerce Trading Down 2.6%

NASDAQ EVCM traded down $0.29 on Wednesday, reaching $10.84. The company had a trading volume of 243,208 shares, compared to its average volume of 184,690. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -90.33, a P/E/G ratio of 9.86 and a beta of 1.06. EverCommerce Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $12.34. The business has a 50 day moving average of $11.26 and a two-hundred day moving average of $10.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.37 and a quick ratio of 2.37.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. The business had revenue of $148.02 million during the quarter, compared to the consensus estimate of $145.80 million. EverCommerce had a negative return on equity of 1.96% and a negative net margin of 3.27%.EverCommerce's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. Analysts forecast that EverCommerce Inc. will post -0.17 EPS for the current year.

Institutional Trading of EverCommerce

Several large investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new stake in shares of EverCommerce in the 2nd quarter valued at about $595,000. Oxford Asset Management LLP bought a new position in EverCommerce in the 2nd quarter valued at about $168,000. Lazard Asset Management LLC lifted its position in EverCommerce by 5,995.2% in the 2nd 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. Occudo Quantitative Strategies LP bought a new position in EverCommerce in the 2nd quarter valued at about $302,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in EverCommerce by 328.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company's stock valued at $7,502,000 after acquiring an additional 547,712 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EVCM shares. Piper Sandler increased their price target on EverCommerce from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Oppenheimer reiterated an "outperform" rating and set a $13.00 price target (up from $12.00) on shares of EverCommerce in a report on Thursday, August 7th. Finally, Zacks Research upgraded EverCommerce from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.50.

EverCommerce Company Profile

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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