EverCommerce Inc. (NASDAQ:EVCM) Stake Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in EverCommerce Inc. (NASDAQ:EVCM) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,360 shares of the company’s stock after acquiring an additional 1,089 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in EverCommerce were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. RIA Advisory Group LLC bought a new stake in EverCommerce in the first quarter worth approximately $242,000. Vanguard Group Inc. boosted its holdings in EverCommerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after purchasing an additional 30,481 shares in the last quarter. Edgestream Partners L.P. acquired a new position in EverCommerce during the first quarter worth $123,000. DekaBank Deutsche Girozentrale raised its holdings in EverCommerce by 57.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock valued at $512,000 after buying an additional 20,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in EverCommerce by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock valued at $1,805,000 after buying an additional 9,595 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce Price Performance

Shares of EVCM opened at $10.74 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68. The company has a 50-day simple moving average of $10.35 and a 200-day simple moving average of $10.27. EverCommerce Inc. has a 52 week low of $6.22 and a 52 week high of $12.35. The firm has a market capitalization of $1.99 billion, a P/E ratio of -51.14 and a beta of 1.08.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. The firm had revenue of $177.39 million during the quarter, compared to analyst estimates of $171.88 million. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts expect that EverCommerce Inc. will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EVCM shares. Evercore ISI increased their price objective on EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.45.

Insider Activity

In other news, CEO Eric Richard Remer sold 7,099 shares of EverCommerce stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the sale, the chief executive officer now directly owns 8,124,163 shares in the company, valued at approximately $86,847,302.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 46,633 shares of company stock worth $489,477. 11.50% of the stock is currently owned by corporate 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.