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Eric Remer, the Chief Executive Officer of EverCommerce Inc. (NASDAQ:EVCM), recently sold shares of the company’s common stock amounting to a total of $359,390. The transactions took place over several days, with shares sold at prices ranging from $9.81 to $10.26 per share. According to InvestingPro data, the stock appears undervalued at its current price of $9.77, with the company maintaining a market capitalization of $1.91 billion.
The sales were executed as part of a pre-arranged Rule 10b5-1 trading plan, which was established in June 2024. This type of plan allows company insiders to set up a schedule for selling stocks to avoid any potential conflicts of interest or accusations of insider trading. While the company isn’t currently profitable, InvestingPro analysis shows analysts expect profitability this year, with strong liquidity ratios indicating solid financial health.
In addition to these sales, there was a separate transaction involving the withholding of shares to cover tax obligations related to the vesting of Restricted Stock Units. This transaction involved 3,942 shares valued at $10.24 each, totaling $40,366.
After these transactions, Remer holds a significant number of shares indirectly through various family trusts and entities, maintaining a strong stake in EverCommerce. The company’s stock is traded on the NASDAQ under the ticker symbol EVCM.
In other recent news, EverCommerce Inc. reported mixed results for the fourth quarter of 2024, with revenue slightly exceeding expectations at $175 million, surpassing the forecasted $170.52 million. However, the company reported a wider-than-expected loss per share of $0.07, compared to the anticipated loss of $0.01. In addition to its earnings announcement, EverCommerce revealed plans to divest its Marketing Technology (MarTech) segment in 2025, a move that is expected to streamline operations and potentially improve long-term margins. Analysts have responded to these developments with varied assessments. Piper Sandler reduced its price target for EverCommerce to $9 from $11, maintaining a Neutral stance, while RBC Capital Markets adjusted its target to $11 from $14, still recommending the stock as Outperform. Citizens JMP remains optimistic, maintaining a price target of $15 and a Market Outperform rating. The company’s strategic focus is shifting towards the EverPro and EverHealth segments, with expectations of maintaining its EBITDA levels in 2025 similar to those of 2024. These recent developments indicate a strategic pivot for EverCommerce as it looks to enhance its core business operations and financial performance.
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