Key Points
- EverCommerce CEO Eric Richard Remer sold 8,742 shares on July 8 for about $86,196, continuing a recent pattern of insider selling. The trade was made under a pre-arranged Rule 10b5-1 plan.
- Remer has sold shares repeatedly in recent weeks, including multiple transactions in early July and throughout June, while still holding more than 5.67 million shares valued at roughly $56 million. The sales have trimmed his ownership only slightly, but they add to investor focus on insider activity.
- EverCommerce recently missed earnings estimates, reporting $0.04 EPS versus the expected $0.14, even as revenue came in close to forecasts at $147.47 million. Analysts currently rate the stock a consensus Hold with an average target price of $11.25.
EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CEO Eric Richard Remer sold 8,742 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $9.86, for a total value of $86,196.12. Following the transaction, the chief executive officer directly owned 5,679,451 shares of the company's stock, valued at approximately $55,999,386.86. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 7th, Eric Richard Remer sold 11,269 shares of EverCommerce stock. The stock was sold at an average price of $10.08, for a total value 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 value 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 value 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.
- On Wednesday, June 10th, Eric Richard Remer sold 7,517 shares of EverCommerce stock. The shares were sold at an average price of $9.15, for a total transaction of $68,780.55.
- On Tuesday, June 9th, Eric Richard Remer sold 11,683 shares of EverCommerce stock. The shares were sold at an average price of $9.08, for a total transaction of $106,081.64.
- On Wednesday, June 3rd, Eric Richard Remer sold 5,658 shares of EverCommerce stock. The stock was sold at an average price of $9.57, for a total transaction of $54,147.06.
- On Tuesday, June 2nd, Eric Richard Remer sold 13,542 shares of EverCommerce stock. The stock was sold at an average price of $10.53, for a total transaction of $142,597.26.
EverCommerce Stock Performance
EverCommerce stock opened at $10.20 on Friday. The company's 50-day moving average price is $10.00 and its 200-day moving average price is $10.98. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.80 billion, a PE ratio of 60.00, a price-to-earnings-growth ratio of 0.89 and a beta of 0.93. EverCommerce Inc. has a twelve month low of $7.66 and a twelve month high of $14.41.
EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.10). The business had revenue of $147.47 million during the quarter, compared to the consensus estimate of $147.18 million. EverCommerce had a net margin of 5.47% and a return on equity of 3.37%. The firm's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. On average, equities research analysts forecast that EverCommerce Inc. will post 0.57 EPS for the current fiscal year.
Key EverCommerce News
Here are the key news stories impacting EverCommerce this week:
- Negative Sentiment: CEO Eric Richard Remer sold 8,742 shares on July 8 and 11,269 shares on July 7, continuing a recent pattern of insider selling. Although both trades were made under a pre-arranged 10b5-1 plan, repeated sales by top executives can pressure investor sentiment. Article Title
- Negative Sentiment: President Matthew David Feierstein sold 1,798 shares on July 8 and 10,000 shares on July 6, adding to the recent insider-selling trend. While the transactions were also conducted under a 10b5-1 plan, they may reinforce concerns that management sees limited near-term upside. Article Title
- Negative Sentiment: Goldman Sachs reportedly remained at a sell rating on EverCommerce, which could further dampen sentiment around the stock. Analyst pessimism combined with insider sales often creates an overhang for shares. Article Title
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in EVCM. CoreCap Advisors LLC purchased a new position in EverCommerce in the 2nd quarter worth about $2,716,000. Tudor Investment Corp ET AL grew its stake in EverCommerce by 200.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company's stock worth $1,397,000 after acquiring an additional 83,794 shares in the last quarter. JPMorgan Chase & Co. grew its stake in EverCommerce by 11.9% in the 2nd 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 in the last quarter. Goldman Sachs Group Inc. increased its position in shares of EverCommerce by 94.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company's stock worth $1,266,000 after acquiring an additional 50,854 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of EverCommerce by 111.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company's stock worth $749,000 after acquiring an additional 34,979 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $14.00 target price on shares of EverCommerce in a report on Friday, May 8th. Citizens Jmp lowered EverCommerce from an "outperform" rating to a "market perform" rating in a report on Friday, March 13th. Wall Street Zen lowered shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Royal Bank Of Canada reduced their price objective on shares of EverCommerce from $12.00 to $11.00 and set a "sector perform" rating on the stock in a research report on Friday, March 13th. Finally, Weiss Ratings downgraded shares of EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $11.25.
Get Our Latest Stock Analysis on EVCM
EverCommerce Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
