EverCommerce Inc. (NASDAQ:EVCM) Chief Financial Officer Marc Christopher Thompson has sold a portion of his holdings in the company, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on May 28, 2024, involved the sale of 4,701 shares of common stock at an average price of $10.16 per share, totaling approximately $47,762.
The disclosed price represents a weighted average, as the shares were sold in multiple transactions at varying prices. The SEC filing notes that Thompson is willing to provide full details of the sales prices upon request, indicating that the transactions were part of a block trade executed by the broker.
Following the sale, Thompson retains a significant stake in the company, with 1,198,110 shares of EverCommerce's common stock still in his direct ownership. Additionally, the filing mentions an indirect ownership of 70,000 shares held by a family trust.
Investors often monitor insider transactions for insights into executive confidence in the company's prospects. In this case, the CFO's sale represents a relatively small fraction of his total holdings in EverCommerce, which may be interpreted in various ways by market participants.
EverCommerce, headquartered in Denver, Colorado, specializes in providing software services and operates within the prepackaged software industry. The company's stock is publicly traded under the ticker EVCM on the NASDAQ exchange.
InvestingPro Insights
Amidst the recent insider selling by EverCommerce Inc. (NASDAQ:EVCM) CFO Marc Christopher Thompson, investors are keen to understand the company's financial health and future prospects. According to InvestingPro data, EverCommerce has a market capitalization of $1.84 billion and a price-to-book ratio of 2.3 as of the last twelve months ending Q1 2024. Despite not being profitable over the last twelve months, analysts are optimistic, predicting that EverCommerce will become profitable this year.
InvestingPro Tips reveal that while four analysts have revised their earnings expectations downwards for the upcoming period, the company's net income is expected to grow within the year. Additionally, EverCommerce's liquid assets surpass its short-term obligations, providing a level of financial stability. It's worth noting, however, that the company currently does not pay a dividend to shareholders, which may influence investment decisions for those seeking income-generating stocks.
For investors seeking a deeper dive into EverCommerce's financials and future outlook, there are additional InvestingPro Tips available on the platform. Subscribers can access these insights to gain a more comprehensive understanding of the company's valuation and performance metrics. Interested readers can take advantage of a special offer using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With the number of available tips exceeding 7, this could be a valuable resource for those closely following EverCommerce's journey in the software services industry.
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