EverCommerce Inc. (NASDAQ:EVCM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of EverCommerce Inc. (NASDAQ:EVCM) by 63.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,618 shares of the company’s stock after selling 92,521 shares during the quarter. Bank of New York Mellon Corp’s holdings in EverCommerce were worth $579,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after acquiring an additional 63,139 shares during the period. Edgestream Partners L.P. purchased a new position in shares of EverCommerce in the 3rd quarter valued at about $536,000. Barclays PLC increased its stake in shares of EverCommerce by 305.6% in the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after purchasing an additional 22,360 shares in the last quarter. State Street Corp raised its holdings in EverCommerce by 2.4% in the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after purchasing an additional 12,156 shares during the period. Finally, Janus Henderson Group PLC boosted its position in EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after purchasing an additional 3,837 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EVCM has been the subject of a number of recent analyst reports. Barclays cut their price objective on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Oppenheimer cut their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, March 14th. The Goldman Sachs Group reduced their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 14th. Piper Sandler dropped their target price on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Jefferies Financial Group reduced their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.09.

Insider Activity

In other news, President Matthew David Feierstein sold 20,401 shares of EverCommerce stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the sale, the president now owns 2,217,294 shares of the company’s stock, valued at approximately $23,968,948.14. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric Richard Remer sold 5,117 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $10.39, for a total value of $53,165.63. Following the completion of the transaction, the chief executive officer now owns 7,862,366 shares of the company’s stock, valued at $81,689,982.74. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 239,363 shares of company stock valued at $2,439,272. 11.60% of the stock is currently owned by insiders.

EverCommerce Stock Performance

EVCM opened at $10.46 on Friday. EverCommerce Inc. has a twelve month low of $8.10 and a twelve month high of $12.35. The firm has a market capitalization of $1.92 billion, a PE ratio of -37.36 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. The firm’s 50-day moving average price is $10.15 and its 200 day moving average price is $10.69.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $170.48 million. During the same quarter last year, the company earned ($0.12) earnings per share. EverCommerce’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that EverCommerce Inc. will post -0.17 EPS for the current fiscal year.

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.