EverCommerce Inc. EVCM shares are trading higher after the company announced today that its Board of Directors has approved a $50 million share repurchase program, under which the company may opportunistically repurchase up to $50 million of its common shares over the next six months.
Eric Remer, Chairman and CEO of EverCommerce said, "We believe share repurchases are an accretive and attractive use of capital, our strong organic growth and margin profile provides the excess free cash flow to fund the program. Together with our Board of Directors, we will continue to assess the best use of capital both during and after the six-month time horizon of today's authorization."
EverCommerce Inc service commerce platform, providing vertically tailored, integrated SaaS solutions that help more than 500,000 service-based businesses accelerate growth, streamline operations and increase retention.
EVCM Price Action: EverCommerce Inc. has traded between $23.41 and $7.73 over a 52-week period.
The stock was trading about 9.7% higher at $8.62 per share on Wednesday at the time of publication.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.