EverCommerce Inc. (NASDAQ:EVCM) announced that its CEO, Eric Richard Remer, sold 6,571 shares of the company’s stock for a total of $79,574.81 on December 29, 2023. The shares were sold at an average price of $12.11 each. Following this transaction, Remer retains ownership of 2,792,647 shares, valued at approximately $33,818,955.17, reflecting a 0.23% decrease in his total ownership.
The transaction was reported in a filing with the U.S. Securities and Exchange Commission (SEC). This disclosure is part of a broader pattern of financial maneuvers within the company, highlighting ongoing adjustments in executive stock holdings.
Market Performance and Analyst Insights
On the same day as Remer’s stock sale, EverCommerce shares experienced a slight decline, dropping by $0.03 to close at $12.11. During trading, the company saw a volume of 87,360 shares traded, which is below its average volume of 206,601 shares. EverCommerce holds a market capitalization of $2.17 billion and has a price-to-earnings (P/E) ratio of -1,209.79.
The stock has fluctuated within a 12-month range, hitting a low of $7.66 and a high of $14.41. Current financial metrics indicate a debt-to-equity ratio of 0.71 and a quick ratio of 2.02, suggesting a stable financial position amidst market volatility.
Investor Activity and Institutional Ownership
Recent trading activity indicates increased interest from institutional investors in EverCommerce. Federated Hermes Inc. raised its stake in the company by 118.3% during the third quarter, now holding 3,076 shares valued at $34,000. Similarly, the State of Alaska Department of Revenue acquired a new stake worth approximately $91,000.
In the first quarter, Deutsche Bank AG increased its position by 141.9%, owning 9,836 shares after purchasing an additional 5,770 shares. Other notable transactions include R Squared Ltd, which bought a new stake valued at around $122,000, and Prudential Financial Inc. increasing its holdings by 9.6% in the second quarter, bringing its total to 13,546 shares valued at $142,000.
Currently, institutional investors collectively own 97.91% of EverCommerce’s stock, reflecting strong confidence in the company’s long-term prospects.
EverCommerce, Inc. specializes in providing cloud-based software-as-a-service (SaaS) solutions tailored for local service businesses. By integrating various operational functions into a single platform, the company aims to enhance customer interactions, streamline operations, and foster recurring revenue streams. Their offerings include tools for appointment scheduling, payment processing, client relationship management, and marketing automation.
As EverCommerce continues to evolve in the competitive SaaS market, the actions of its leadership and institutional investors will be closely monitored for indications of future performance and strategic direction.
