EverCommerce Inc. (NASDAQ:EVCM) Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,119 shares of the company’s stock after selling 1,241 shares during the period. The Manufacturers Life Insurance Company’s holdings in EverCommerce were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of EVCM. Renaissance Technologies LLC boosted its holdings in EverCommerce by 19.4% in the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after purchasing an additional 2,700 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in EverCommerce by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after acquiring an additional 9,595 shares during the period. SG Americas Securities LLC acquired a new position in EverCommerce in the third quarter valued at about $107,000. RIA Advisory Group LLC acquired a new position in EverCommerce in the 3rd quarter worth $241,000. Finally, AQR Capital Management LLC boosted its position in EverCommerce by 394.8% during the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock valued at $611,000 after purchasing an additional 44,378 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EVCM. JMP Securities boosted their price target on EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Oppenheimer raised their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler increased their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on shares of EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Barclays lifted their price target on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.56.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 7,099 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $10.69, for a total transaction of $75,888.31. Following the transaction, the chief executive officer now directly owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew David Feierstein sold 7,455 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $12.06, for a total value of $89,907.30. Following the sale, the president now owns 2,239,169 shares of the company’s stock, valued at $27,004,378.14. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,421 shares of company stock worth $1,792,578 over the last ninety days. Insiders own 11.60% of the company’s stock.

EverCommerce Stock Down 1.6 %

EVCM stock opened at $12.01 on Tuesday. The company’s 50 day moving average is $11.27 and its 200 day moving average is $10.81. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -42.89 and a beta of 1.12. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce Inc. has a 1-year low of $6.22 and a 1-year high of $12.35.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The company had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. The firm’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts predict that EverCommerce Inc. will post -0.17 EPS for the current fiscal year.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.