Insider Selling: EverCommerce (NASDAQ:EVCM) CEO Sells $104,246.73 in Stock

EverCommerce Inc. (NASDAQ:EVCM) CEO Eric Richard Remer sold 8,709 shares of EverCommerce stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $11.97, for a total value of $104,246.73. Following the completion of the sale, the chief executive officer owned 5,621,851 shares in the company, valued at $67,293,556.47. This represents a 0.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 28th, Eric Richard Remer sold 10,491 shares of EverCommerce stock. The stock was sold at an average price of $12.07, for a total value of $126,626.37.
• On Tuesday, July 21st, Eric Richard Remer sold 12,100 shares of EverCommerce stock. The stock was sold at an average price of $11.27, for a total value of $136,367.00.
• On Tuesday, July 14th, Eric Richard Remer sold 19,200 shares of EverCommerce stock. The stock was sold at an average price of $10.77, for a total value of $206,784.00.
• On Wednesday, July 8th, Eric Richard Remer sold 8,742 shares of EverCommerce stock. The shares were sold at an average price of $9.86, for a total transaction of $86,196.12.
• On Tuesday, July 7th, Eric Richard Remer sold 11,269 shares of EverCommerce stock. The shares were sold at an average price of $10.08, for a total transaction of $113,591.52.
• On Thursday, July 2nd, Eric Richard Remer sold 18,950 shares of EverCommerce stock. The stock was sold at an average price of $10.20, for a total transaction of $193,290.00.
• 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 shares were sold at an average price of $9.89, for a total transaction of $146,372.00.
• On Tuesday, June 23rd, Eric Richard Remer sold 1,100 shares of EverCommerce stock. The stock was 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 transaction of $42,028.20.

EverCommerce Stock Performance

NASDAQ:EVCM opened at $12.34 on Friday. EverCommerce Inc. has a fifty-two week low of $7.66 and a fifty-two week high of $14.41. 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 company has a 50 day moving average price of $10.29 and a 200 day moving average price of $10.94. The stock has a market capitalization of $2.18 billion, a P/E ratio of 72.59, a PEG ratio of 1.10 and a beta of 0.93.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (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 analysts’ expectations of $147.18 million. During the same period in the previous year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts forecast that EverCommerce Inc. will post 0.57 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EVCM shares. Weiss Ratings downgraded EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Wall Street Zen cut EverCommerce from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 target price on shares of EverCommerce in a research report on Friday, May 8th. Finally, Canaccord Genuity Group boosted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, EverCommerce has an average rating of “Hold” and an average target price of $11.25.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in EverCommerce by 11.9% in the second quarter. JPMorgan Chase & Co. now owns 112,574 shares of the company’s stock worth $1,107,000 after acquiring an additional 11,996 shares during the last quarter. American Century Companies Inc. increased 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 valued at $290,000 after purchasing an additional 4,576 shares during the last quarter. Prudential Financial Inc. increased its position in shares of EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after purchasing an additional 1,190 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of EverCommerce in the 2nd quarter valued at $302,000. Finally, Lazard Asset Management LLC raised its holdings in shares of 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 purchasing an additional 49,041 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About EverCommerce

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.