Insider Selling: EverCommerce Inc. (NASDAQ:EVCM) CEO Sells 13,522 Shares of Stock

EverCommerce Inc. (NASDAQ:EVCM) CEO Eric Richard Remer sold 13,522 shares of EverCommerce stock in a transaction on Friday, June 7th. The stock was sold at an average price of $9.52, for a total transaction of $128,729.44. Following the completion of the transaction, the chief executive officer now owns 1,258,278 shares in the company, valued at approximately $11,978,806.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, June 4th, Eric Richard Remer sold 5,759 shares of EverCommerce stock. The stock was 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.
• On Tuesday, April 2nd, Eric Richard Remer sold 4,016 shares of EverCommerce stock. The stock was sold at an average price of $9.00, for a total transaction of $36,144.00.

EverCommerce Stock Up 1.2 %

NASDAQ:EVCM traded up $0.11 during mid-day trading on Tuesday, hitting $9.61. 172,482 shares of the company’s stock were exchanged, compared to its average volume of 142,367. EverCommerce Inc. has a one year low of $6.22 and a one year high of $12.32. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.71 and a quick ratio of 1.71. The business has a fifty day moving average price of $9.57 and a 200 day moving average price of $9.76. The company has a market cap of $1.78 billion, a PE ratio of -45.76 and a beta of 1.07.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EVCM. Barclays cut their price target on shares of EverCommerce from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, March 15th. Oppenheimer raised their price target on shares of EverCommerce from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 price target (down previously from $11.00) on shares of EverCommerce in a report on Friday, March 15th. Royal Bank of Canada cut their price target on shares of EverCommerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $10.00 price target on shares of EverCommerce in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Institutional Investors Weigh In On EverCommerce

Several hedge funds have recently bought and sold shares of EVCM. Edgestream Partners L.P. purchased a new position in EverCommerce in the first quarter worth about $123,000. Quest Partners LLC purchased a new position in EverCommerce in the fourth quarter worth about $135,000. RIA Advisory Group LLC purchased a new position in EverCommerce in the first quarter worth about $242,000. Raymond James Financial Services Advisors Inc. raised its holdings 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 last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in EverCommerce in the fourth quarter worth about $391,000. Institutional investors own 97.91% of the company’s stock.

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.