Key Points
- Director Eric Richard Remer sold 40,906 EverCommerce shares at an average price of $8.91, generating $364,472.46. The sale covered tax-withholding obligations, reducing his ownership by 0.8% to 5.07 million shares.
- Remer has made multiple recent sales, selling more than 236,000 additional shares from August 18 through September 1. EverCommerce shares opened at $8.07, down 9.0%, and remain near their 12-month low.
- EverCommerce’s latest quarterly earnings missed estimates, with EPS of $0.05 versus the $0.15 consensus, while revenue rose 2.7% year over year. Analysts maintain a consensus “Hold” rating with an $11.00 price target.
EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) Director Eric Richard Remer sold 23,824 shares of the company's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $9.21, for a total transaction of $219,419.04. Following the completion of the transaction, the director owned 5,323,278 shares of the company's stock, valued at approximately $49,027,390.38. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Eric Richard Remer also recently made the following trade(s):
- On Tuesday, September 1st, Eric Richard Remer sold 47,353 shares of EverCommerce stock. The shares were sold at an average price of $8.24, for a total value of $390,188.72.
- On Monday, August 31st, Eric Richard Remer sold 40,906 shares of EverCommerce stock. The stock was sold at an average price of $8.91, for a total value of $364,472.46.
- On Thursday, August 27th, Eric Richard Remer sold 14,594 shares of EverCommerce stock. The shares were sold at an average price of $9.24, for a total transaction of $134,848.56.
- On Wednesday, August 26th, Eric Richard Remer sold 21,821 shares of EverCommerce stock. The shares were 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 shares were sold at an average price of $9.13, for a total value 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 stock was 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 value 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 value 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 value of $291,481.19.
EverCommerce Trading Down 9.0%
Shares of EVCM opened at $8.07 on Wednesday. EverCommerce Inc. has a 1-year low of $7.66 and a 1-year high of $14.41. The business's 50-day moving average price is $10.46 and its 200 day moving average price is $10.66. The stock has a market capitalization of $1.43 billion, a P/E ratio of 44.83, a P/E/G ratio of 0.87 and a beta of 0.84. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.
EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (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 analyst estimates of $152.29 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. Analysts expect that EverCommerce Inc. will post 0.52 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on EVCM shares. Barclays boosted their price target on shares of EverCommerce from $8.50 to $10.00 and gave the company an "underweight" rating in a report on Thursday, August 6th. Wall Street Zen downgraded EverCommerce from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Weiss Ratings restated a "hold (c-)" rating on shares of EverCommerce in a report on Friday, August 21st. Royal Bank Of Canada lowered their price target on EverCommerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $14.00 price objective on shares of EverCommerce in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, EverCommerce currently has an average rating of "Hold" and a consensus price target of $11.00.
View Our Latest Report on EverCommerce
Institutional Trading of EverCommerce
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its stake in shares of EverCommerce by 149.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,982 shares of the company's stock valued at $197,000 after purchasing an additional 1,187 shares during the period. Bank of America Corp DE bought a new position in EverCommerce during the 2nd quarter valued at about $125,000. Prudential Financial Inc. boosted its position in EverCommerce by 9.6% in the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock valued at $142,000 after buying an additional 1,190 shares in the last quarter. Deutsche Bank AG bought a new stake in EverCommerce during the second quarter worth about $144,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in EverCommerce during the fourth quarter worth about $177,000. Institutional investors own 97.91% of the company's stock.
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.
See Also
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].
