In a recent transaction, Eric Richard Remer, the Chief Executive Officer of EverCommerce Inc. (NASDAQ:EVCM), sold a significant number of shares in the company. The sale, which took place on May 28, 2024, involved 14,502 shares of common stock at a weighted average price of $10.16 per share, resulting in a total value of $147,340.
The transaction was disclosed in a legal filing with the Securities and Exchange Commission. According to the filing, the shares sold by CEO Remer were part of a block trade executed in multiple transactions. Remer has agreed to provide detailed information about the number of shares sold at each price point upon request.
Following the sale, Remer still holds a substantial amount of EverCommerce stock both directly and indirectly through various family trusts and partnerships. The direct holdings amount to 1,277,559 shares, while indirect ownership through entities such as the EMJ Remer Family Trust, Remer Family Trust, Family Trust 1, and Buckrail Partners, LLC totals 9,244,662 shares.
EverCommerce, a Denver-based company specializing in prepackaged software services, has seen its executives make various transactions in the past, which are often viewed by investors as signals of the company's prospects and management's confidence in its future.
The sale by Remer represents a notable change in his investment in the company, and it is a transaction that investors in the market typically monitor closely for its potential implications.
InvestingPro Insights
Amidst the news of CEO Eric Richard Remer's recent share sale in EverCommerce Inc. (NASDAQ:EVCM), current and prospective investors may find additional context in the company's financial metrics and analyst expectations. EverCommerce, with a market capitalization of $1.84 billion, appears to be navigating through a transformative phase. While the company's price-to-earnings (P/E) ratio stands at a negative 45.75, signaling that it is not currently profitable, the P/E ratio adjusted for the last twelve months as of Q1 2024 worsens to -69.8. This suggests investor expectations of future earnings may be optimistic, despite current losses.
InvestingPro Tips indicate that net income is expected to grow this year, which could be a silver lining for investors concerned about profitability. Additionally, the company's liquid assets exceed its short-term obligations, providing some financial stability. However, 4 analysts have revised their earnings downwards for the upcoming period, which might temper expectations. Moreover, EverCommerce is trading at high EBIT and EBITDA valuation multiples, which could imply that the stock is priced optimistically relative to its earnings before interest and taxes, and earnings before interest, taxes, depreciation, and amortization.
On the performance front, EverCommerce has experienced a revenue growth of 7.21% over the last twelve months as of Q1 2024, and a gross profit margin of 66.12%. These figures could suggest that the company is maintaining a healthy ability to generate earnings relative to its revenues. For those interested in a deeper analysis, there are additional InvestingPro Tips available, which can be accessed for EverCommerce by visiting https://www.investing.com/pro/EVCM. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of investment insights.
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