Insider Selling: EverCommerce Inc. (NASDAQ:EVCM) CEO Sells 10,311 Shares of Stock

EverCommerce Inc. (NASDAQ:EVCM) CEO Eric Richard Remer sold 10,311 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $10.69, for a total transaction 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 document filed with the SEC, which is available at the SEC website.

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 transaction of $75,888.31.
• On Tuesday, July 2nd, Eric Richard Remer sold 3,992 shares of EverCommerce stock. The stock was sold at an average price of $11.07, for a total transaction of $44,191.44.

EverCommerce Trading Up 3.1 %

Shares of EverCommerce stock traded up $0.32 on Thursday, reaching $10.80. The company had a trading volume of 98,071 shares, compared to its average volume of 151,093. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -51.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68. The firm’s 50-day moving average price is $10.81 and its two-hundred day moving average price is $10.08. EverCommerce Inc. has a 1 year low of $6.22 and a 1 year high of $12.35.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EVCM shares. Deutsche Bank Aktiengesellschaft upped their price objective on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI upped their target price on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.45.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in EverCommerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after purchasing an additional 30,481 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after buying an additional 95,934 shares during the period. Millennium Management LLC lifted its stake in shares of EverCommerce by 673.4% during the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after acquiring an additional 281,551 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of EverCommerce by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after acquiring an additional 9,595 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in EverCommerce by 394.8% during the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock valued at $611,000 after acquiring an additional 44,378 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.