EverCommerce CEO sells more than $260,000 in company stock to Investing.com

In recent trading activity, Eric Richard Remer, chief executive of EverCommerce Inc. (NASDAQ:EVCM), has sold a significant portion of its holdings in the company. The transactions, which took place over several days, amounted to a total value of $261,328.

The sales were made at different prices, with a range of $10.6044 to $10.6924 per share. Specifically, on September 17, Remer sold 10,311 shares at an average price of $10.6913, on September 18 another 7,090 shares were sold at an average price of $10.6044, and on September 19 another 7,099 shares were sold at an average price of $10.6924. .

These trades were executed under a predetermined trading plan, known as a Rule 10b5-1 plan, which was established on June 14, 2024. This type of plan allows company insiders to set a trading schedule in advance for to sell shares at a predetermined time to avoid accusations of insider trading.

Following these sales, Remer still owns a substantial number of shares in EverCommerce indirectly through various entities. The shares are held by Buckrail Partners, LLC, EMJ Remer Family Trust, Remer Family Trust and Family Trust 1, indicating an ongoing interest in the company’s future.

Investors often monitor insider trading because it can provide insight into the executive’s perspective on the company’s current valuation and future prospects. However, it is important to note that selling shares does not necessarily reflect a negative outlook, as directors may have various personal financial planning reasons behind such decisions.

EverCommerce Inc. specializes in providing software services and operates in the prepackaged software industry, according to its SEC filings. The company is incorporated in Delaware and headquartered in Denver, Colorado.

In other recent news, EverCommerce beat revenue expectations for Q2 2024, reporting revenue of $177.4 million, up 4.3% year over year. The company’s adjusted EBITDA reached $41.2 million, demonstrating a margin of 23.2%. Excluding the sale of fitness assets, pro forma revenue growth was 6%. Payments revenue, excluding fitness solutions, grew 8% year-over-year, driven by an 8.4% increase in total payment volume.

EverCommerce also named Ryan Siurek as its new CFO and saw significant growth in cross-selling, with 199,000 customers activated for more than one solution, a 25% increase over last year. Looking ahead, the company expects total Q3 revenue to be in the range of $172 million to $176 million, with adjusted EBITDA guidance set at $39 million to $42 million.

These recent developments indicate that EverCommerce is focused on profitability and generating substantial free cash flow. The company’s strategy to drive usage and expand share of wallet through point-of-sale transactions, along with their ongoing transformation and optimization efforts, are expected to contribute to the company’s success.

InvestingPro Insights

As EverCommerce Inc. (NASDAQ:EVCM) navigates the market, recent data from InvestingPro sheds light on the company’s financial health and market valuation. With a market cap of around $1.98 billion, the company’s size in the software services sector is notable. Despite the CEO’s recent share sales, EverCommerce has shown signs of growth, with revenue growth of 6.23% over the trailing twelve months through Q2 2024.

InvestingPro Tips suggests that while analysts recently revised down their earnings expectations for the coming period, they also predict that EverCommerce will become profitable this year. This juxtaposition of expectations highlights the dynamic nature of the technology industry and the challenges of forecasting performance.

In terms of valuation, EverCommerce is trading at a high EBITDA valuation multiple, which could indicate that the market is pricing in future growth or that the stock may be overvalued relative to its earnings before interest, taxes, depreciation and amortization. The company does not pay dividends, which may be a draw for income-focused investors.

Additional information from InvestingPro reveals that there are more tips available, providing a deeper dive into EverCommerce’s financial values ​​and projections. For those interested in a comprehensive analysis, visiting https://www.investing.com/pro/EVCM can provide a wealth of information to inform investment decisions.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.