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DENVER—Eric Remer, the Chief Executive Officer of EverCommerce Inc. (NASDAQ:EVCM), a $1.83 billion market cap company currently trading below its InvestingPro Fair Value, recently executed a series of stock sales amounting to a total of $397,732, according to a recent SEC filing. The transactions, executed over three consecutive days, involved the sale of 39,957 shares of common stock.
On March 18, Remer sold 9,981 shares at an average price of $9.8717, with the price range spanning from $9.65 to $9.98. The following day, he sold 16,424 shares at an average price of $9.9874, with transactions ranging between $9.75 and $10.08. The final sale occurred on March 20, with 13,552 shares sold at an average price of $9.9742, within a price range of $9.56 to $10.06. The company maintains strong financial health with a current ratio of 1.97, indicating solid liquidity.
These sales were executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for selling stocks. Following these transactions, Remer holds approximately 7,646,915 shares indirectly through Buckrail Partners, LLC. For deeper insights into insider trading patterns and comprehensive analysis, access the full EverCommerce research report on InvestingPro, where analysts have recently revised earnings expectations upward.
In other recent news, EverCommerce Inc. reported its fourth-quarter 2024 earnings, revealing revenue that exceeded expectations at $175 million, though the company faced a wider-than-expected loss per share of $0.07 compared to the forecasted loss of $0.01. The company plans to sell its Marketing Technology segment in 2025, a move expected to maintain its EBITDA at the 2024 level of $171.5 million. Piper Sandler adjusted its price target for EverCommerce to $9.00 from $11.00, maintaining a Neutral stance, while RBC Capital revised its target to $11.00 from $14.00, still recommending the stock as Outperform. Citizens JMP reaffirmed a Market Outperform rating with a $15.00 target, highlighting the strategic divestment as a positive step. The divestiture of the MarTech segment is expected to streamline operations, focusing on EverPro and EverHealth segments, which could enhance future growth. EverCommerce’s full-year 2024 pro forma revenue grew by 5.7%, with a significant increase in subscription and transaction revenue by 4.2%. Analysts from RBC Capital view the company’s underlying business trends as stable to positive, despite the complexities introduced by the divestiture.
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