Insider Selling: EverCommerce Inc. (NASDAQ:EVCM) CEO Sells $110,224.59 in Stock

by · The Cerbat Gem

EverCommerce Inc. (NASDAQ:EVCM – Get Free Report) CEO Eric Richard Remer sold 10,311 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $10.69, for a total value of $110,224.59. Following the sale, the chief executive officer now owns 8,138,352 shares in the company, valued at approximately $86,998,982.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Thursday, September 19th, Eric Richard Remer sold 7,099 shares of EverCommerce stock. The stock was sold at an average price of $10.69, for a total value of $75,888.31.
  • On Tuesday, July 2nd, Eric Richard Remer sold 3,992 shares of EverCommerce stock. The shares were sold at an average price of $11.07, for a total value of $44,191.44.

EverCommerce Trading Down 0.3 %

EVCM stock opened at $10.77 on Friday. EverCommerce Inc. has a 52 week low of $6.22 and a 52 week high of $12.35. The company has a market capitalization of $1.99 billion, a PE ratio of -51.29 and a beta of 1.08. The company’s 50-day simple moving average is $10.79 and its 200 day simple moving average is $10.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68.

EverCommerce (NASDAQ:EVCM – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. The company had revenue of $177.39 million during the quarter, compared to the consensus estimate of $171.88 million. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that EverCommerce Inc. will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVCM. Millennium Management LLC lifted its position in EverCommerce by 673.4% during the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after purchasing an additional 281,551 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after acquiring an additional 95,934 shares during the period. AQR Capital Management LLC lifted its holdings in shares of EverCommerce by 394.8% during the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after acquiring an additional 44,378 shares during the period. Vanguard Group Inc. boosted its position in shares of EverCommerce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after acquiring an additional 30,481 shares in the last quarter. Finally, RIA Advisory Group LLC bought a new position in EverCommerce in the first quarter valued at approximately $242,000. Institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Evercore ISI upped their target price on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised 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 Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.45.

Check Out Our Latest Report on EVCM

About EverCommerce

(Get Free Report)

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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