Denver-based EverCommerce Inc. (NASDAQ:EVCM), a provider of business software solutions, has reported a recent sale of shares by one of its top executives. Ryan H. Siurek, the Chief Accounting Officer of EverCommerce, sold 1,471 shares of common stock at an average price of $10.16 per share, amounting to a total of $14,945.
The transaction, which took place on May 28, 2024, was disclosed in a regulatory filing with the Securities and Exchange Commission. Following the sale, Siurek's direct ownership in the company stands at 114,416 shares. The average selling price was derived as a weighted average, indicating that the shares were sold in multiple transactions at different prices.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's current valuation and future prospects. The sale by Siurek represents a relatively small adjustment to his holdings in EverCommerce, yet it is a transaction that market watchers may consider when evaluating their investment decisions.
EverCommerce has not issued any official statement regarding the transaction, and the regulatory filing does not suggest any immediate cause for the stock sale. The company's stock performance and further insider transactions will continue to be of interest to investors tracking EverCommerce's market activity.
InvestingPro Insights
As investors delve into the details surrounding the insider transaction at EverCommerce Inc. (NASDAQ:EVCM), it's crucial to consider the broader financial landscape of the company. According to InvestingPro data, EverCommerce boasts a market capitalization of $1.84 billion and has experienced a revenue growth of 7.21% over the last twelve months as of Q1 2024. This growth trajectory is complemented by a notable gross profit margin of 66.12%, reflecting the company's ability to maintain profitability in its core operations.
Despite a challenging valuation environment, as indicated by a negative P/E ratio of -45.75 and an adjusted P/E ratio of -69.8 for the last twelve months, EverCommerce demonstrates strong liquidity, with liquid assets surpassing short-term obligations. This financial stability is an essential factor for investors, especially when considering the company's future profitability, which some analysts predict will materialize this year.
InvestingPro Tips highlight that while EverCommerce is not currently profitable, net income is expected to grow within the year, providing a potential upside for investors. Additionally, the company's EBITDA has grown by an impressive 36.52% in the same period, signaling improving operational efficiency. However, it is important to note that 4 analysts have revised their earnings estimates downwards for the upcoming period, which may require investors to adjust their expectations accordingly.
For those looking to delve deeper into EverCommerce's financial health and future prospects, InvestingPro offers a range of additional tips. With the use of the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to valuable insights that could inform investment decisions. Currently, there are 7 additional InvestingPro Tips available for EverCommerce, offering a comprehensive analysis of the company's performance and market position.
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