Insider Selling: EverCommerce Inc. (NASDAQ:EVCM) CEO Sells 3,992 Shares of Stock

EverCommerce Inc. (NASDAQ:EVCM) CEO Eric Richard Remer sold 3,992 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $11.07, for a total transaction of $44,191.44. Following the sale, the chief executive officer now directly owns 1,254,286 shares in the company, valued at approximately $13,884,946.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, June 7th, Eric Richard Remer sold 13,522 shares of EverCommerce stock. The shares were sold at an average price of $9.52, for a total transaction of $128,729.44.
• On Tuesday, June 4th, Eric Richard Remer sold 5,759 shares of EverCommerce stock. The shares were sold at an average price of $9.50, for a total transaction of $54,710.50.
• On Tuesday, May 28th, Eric Richard Remer sold 14,502 shares of EverCommerce stock. The stock was sold at an average price of $10.16, for a total transaction of $147,340.32.

EverCommerce Stock Down 0.9 %

Shares of EVCM traded down $0.10 during trading on Wednesday, reaching $11.14. The company’s stock had a trading volume of 94,883 shares, compared to its average volume of 161,482. The company has a fifty day moving average of $9.96 and a two-hundred day moving average of $9.81. EverCommerce Inc. has a twelve month low of $6.22 and a twelve month high of $12.32. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -53.52 and a beta of 1.10. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.66.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $170.10 million for the quarter, compared to analyst estimates of $162.11 million. EverCommerce had a negative net margin of 6.02% and a negative return on equity of 4.92%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, sell-side analysts predict that EverCommerce Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On EverCommerce

Several large investors have recently added to or reduced their stakes in EVCM. Raymond James Financial Services Advisors Inc. increased its position in EverCommerce by 7.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock worth $254,000 after buying an additional 1,500 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of EverCommerce in the fourth quarter worth $391,000. Great Lakes Advisors LLC grew its stake in shares of EverCommerce by 42.9% in the fourth quarter. Great Lakes Advisors LLC now owns 203,863 shares of the company’s stock worth $2,249,000 after purchasing an additional 61,236 shares in the last quarter. Quest Partners LLC bought a new position in shares of EverCommerce in the fourth quarter worth $135,000. Finally, RIA Advisory Group LLC bought a new position in EverCommerce during the first quarter valued at about $242,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EVCM. Oppenheimer lifted their price target on EverCommerce from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.00 price target (down previously from $11.00) on shares of EverCommerce in a research note on Friday, March 15th. Piper Sandler reissued a “neutral” rating and issued a $10.00 target price on shares of EverCommerce in a research note on Friday, March 15th. Canaccord Genuity Group boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $12.00 target price on shares of EverCommerce in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, EverCommerce has an average rating of “Moderate Buy” and an average target price of $11.40.

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.