Geode Capital Management LLC Trims Stake in EverCommerce Inc. (NASDAQ:EVCM)

Geode Capital Management LLC lessened its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627,277 shares of the company’s stock after selling 24,365 shares during the period. Geode Capital Management LLC owned about 0.34% of EverCommerce worth $6,499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EVCM. The Manufacturers Life Insurance Company grew its position in EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after acquiring an additional 1,089 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of 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 during the last quarter. Janus Henderson Group PLC increased its stake in EverCommerce by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after buying an additional 3,837 shares during the period. Bank of New York Mellon Corp increased its stake in EverCommerce by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after buying an additional 9,595 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in EverCommerce in the 3rd quarter valued at about $107,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce Stock Up 2.0 %

NASDAQ:EVCM opened at $10.97 on Friday. EverCommerce Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The stock has a market capitalization of $2.01 billion, a P/E ratio of -39.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The company’s 50-day simple moving average is $11.50 and its 200-day simple moving average is $10.95.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 5,436 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $10.09, for a total transaction of $54,849.24. Following the transaction, the chief executive officer now owns 8,100,550 shares in the company, valued at approximately $81,734,549.50. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 7,455 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $12.06, for a total transaction of $89,907.30. Following the completion of the transaction, the president now directly owns 2,239,169 shares of the company’s stock, valued at approximately $27,004,378.14. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,123 shares of company stock worth $1,967,057 in the last ninety days. 11.60% of the stock is owned by insiders.

EverCommerce 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.