Key Points
- EverCommerce director Eric Richard Remer sold 14,594 shares for approximately $134,849, reducing his direct ownership by 0.27% to 5.35 million shares. The sale follows multiple insider sales since August 12.
- EverCommerce shares opened at $9.34, with a market capitalization of about $1.65 billion, after the stock rose 3.5%. The company’s latest quarterly earnings missed estimates, reporting $0.05 EPS versus the $0.15 consensus, while revenue increased 2.7% year over year.
- Analysts have an overall “Hold” rating on EVCM and an average price target of $11.00, while institutional investors own 97.91% of the stock.
EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) Director Eric Richard Remer sold 14,594 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $9.24, for a total transaction of $134,848.56. Following the sale, the director directly owned 5,347,102 shares of the company's stock, valued at approximately $49,407,222.48. This trade represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Eric Richard Remer also recently made the following trade(s):
- On Wednesday, August 26th, Eric Richard Remer sold 21,821 shares of EverCommerce stock. The stock was sold at an average price of $8.98, for a total transaction of $195,952.58.
- On Tuesday, August 25th, Eric Richard Remer sold 20,710 shares of EverCommerce stock. The stock was sold at an average price of $9.13, for a total transaction of $189,082.30.
- On Monday, August 24th, Eric Richard Remer sold 13,974 shares of EverCommerce stock. The stock was sold at an average price of $9.57, for a total transaction of $133,731.18.
- On Friday, August 21st, Eric Richard Remer sold 16,602 shares of EverCommerce stock. The shares were sold at an average price of $9.63, for a total transaction of $159,877.26.
- On Thursday, August 20th, Eric Richard Remer sold 26,530 shares of EverCommerce stock. The shares were sold at an average price of $9.78, for a total transaction of $259,463.40.
- On Wednesday, August 19th, Eric Richard Remer sold 20,913 shares of EverCommerce stock. The shares were sold at an average price of $10.17, for a total transaction of $212,685.21.
- On Tuesday, August 18th, Eric Richard Remer sold 29,119 shares of EverCommerce stock. The stock was sold at an average price of $10.01, for a total transaction of $291,481.19.
- On Friday, August 14th, Eric Richard Remer sold 23,947 shares of EverCommerce stock. The shares were sold at an average price of $10.03, for a total transaction of $240,188.41.
- On Thursday, August 13th, Eric Richard Remer sold 17,285 shares of EverCommerce stock. The shares were sold at an average price of $10.00, for a total value of $172,850.00.
- On Wednesday, August 12th, Eric Richard Remer sold 24,802 shares of EverCommerce stock. The shares were sold at an average price of $9.87, for a total value of $244,795.74.
EverCommerce Trading Up 3.5%
Shares of EVCM stock opened at $9.34 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 51.89, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91. EverCommerce Inc. has a 12-month low of $7.66 and a 12-month high of $14.41. The stock's 50-day moving average price is $10.47 and its 200-day moving average price is $10.70.
EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.10). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The firm had revenue of $152.02 million for the quarter, compared to the consensus estimate of $152.29 million. During the same period in the previous year, the company posted $0.04 earnings per share. EverCommerce's quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that EverCommerce Inc. will post 0.52 EPS for the current fiscal year.
Analysts Set New Price Targets
Several brokerages have recently issued reports on EVCM. Royal Bank Of Canada decreased their price objective on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a report on Thursday, August 6th. Barclays raised their target price on shares of EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a report on Thursday, August 6th. 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 report on Monday, May 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of EverCommerce in a research note on Friday, August 21st. Finally, Wall Street Zen lowered shares of EverCommerce from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 14th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $11.00.
View Our Latest Analysis on EverCommerce
Institutional Investors Weigh In On EverCommerce
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in EverCommerce during the second quarter valued at approximately $10,724,000. CoreCap Advisors LLC bought a new stake in shares of EverCommerce in the 2nd quarter valued at approximately $2,716,000. Goldman Sachs Group Inc. boosted its holdings in shares of EverCommerce by 94.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 104,563 shares of the company's stock worth $1,266,000 after purchasing an additional 50,854 shares during the period. Lazard Asset Management LLC boosted 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 worth $523,000 after purchasing an additional 49,041 shares during the period. Finally, Zacks Investment Management bought a new position in shares of EverCommerce during the 3rd quarter valued at approximately $418,000. 97.91% of the stock is owned by institutional investors.
About EverCommerce
(
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.
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