EverCommerce Inc. (NASDAQ:EVCM) Stock Position Raised by State Street Corp

State Street Corp lifted its stake in EverCommerce Inc. (NASDAQ:EVCM) by 2.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 514,965 shares of the company’s stock after purchasing an additional 12,156 shares during the quarter. State Street Corp owned 0.28% of EverCommerce worth $5,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of EVCM. The Manufacturers Life Insurance Company grew its holdings in shares of EverCommerce by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after buying an additional 1,089 shares in the last quarter. Renaissance Technologies LLC boosted its position in EverCommerce by 19.4% during the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after acquiring an additional 2,700 shares during the period. Janus Henderson Group PLC grew its stake in EverCommerce by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after acquiring an additional 3,837 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EverCommerce by 6.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock valued at $1,805,000 after purchasing an additional 9,595 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of EverCommerce in the 3rd quarter valued at about $107,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 5,436 shares of EverCommerce 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 completion of the sale, the chief executive officer now owns 8,100,550 shares in the company, valued at $81,734,549.50. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Matthew David Feierstein sold 17,545 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $11.92, for a total transaction of $209,136.40. Following the completion of the transaction, the president now directly owns 2,246,624 shares in the company, valued at approximately $26,779,758.08. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,722 shares of company stock valued at $1,746,522. Insiders own 11.60% of the company’s stock.

EverCommerce Stock Performance

NASDAQ:EVCM opened at $11.15 on Monday. The firm has a market capitalization of $2.05 billion, a PE ratio of -39.82 and a beta of 1.12. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce Inc. has a 12-month low of $6.22 and a 12-month high of $12.35. The firm has a 50-day moving average price of $11.46 and a 200 day moving average price of $10.92.

EverCommerce (NASDAQ:EVCM) last issued 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). The company had revenue of $176.26 million for the quarter, compared to the consensus estimate of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. EverCommerce’s revenue was up .9% compared to the same quarter last year. Research analysts anticipate that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EVCM. Royal Bank of Canada lifted their price objective on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their price target on EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Oppenheimer increased their price objective on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays lifted their target price on shares of EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, JMP Securities increased their price target on shares of EverCommerce from $12.00 to $15.00 and gave the stock a “market 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.56.

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.