Arrowstreet Capital Limited Partnership Has $1.47 Million Stake in EverCommerce Inc. (NASDAQ:EVCM)

Arrowstreet Capital Limited Partnership boosted its stake in EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 84.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,370 shares of the company's stock after acquiring an additional 61,144 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.07% of EverCommerce worth $1,468,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in EverCommerce by 161.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company's stock valued at $1,059,000 after purchasing an additional 63,139 shares in the last quarter. Raymond James Financial Inc. purchased a new position in EverCommerce in the fourth quarter valued at about $694,000. Barclays PLC boosted its holdings in EverCommerce by 305.6% in the third quarter. Barclays PLC now owns 29,677 shares of the company's stock valued at $307,000 after purchasing an additional 22,360 shares during the last quarter. State Street Corp grew its stake in EverCommerce by 2.4% during the 3rd quarter. State Street Corp now owns 514,965 shares of the company's stock valued at $5,335,000 after purchasing an additional 12,156 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in EverCommerce by 32.3% during the 4th quarter. American Century Companies Inc. now owns 22,753 shares of the company's stock worth $251,000 after purchasing an additional 5,554 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler lowered their price objective on EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Barclays dropped their target price on shares of EverCommerce from $12.00 to $9.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Oppenheimer decreased 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. Royal Bank of Canada dropped their price objective on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Finally, The Goldman Sachs Group decreased their target price on EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $11.09.

EverCommerce Stock Down 0.5 %

NASDAQ:EVCM traded down $0.06 during mid-day trading on Thursday, reaching $10.03. The stock had a trading volume of 29,108 shares, compared to its average volume of 135,941. The stock has a market cap of $1.84 billion, a P/E ratio of -35.80 and a beta of 1.06. The business's 50 day moving average is $10.06 and its 200 day moving average is $10.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. EverCommerce Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). The business had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS. As a group, sell-side analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current year.

Insider Activity at EverCommerce

In related news, President Matthew David Feierstein sold 2,888 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $10.01, for a total transaction of $28,908.88. Following the completion of the transaction, the president now owns 2,209,807 shares in the company, valued at $22,120,168.07. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric Richard Remer sold 7,026 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.94, for a total value of $76,864.44. Following the completion of the sale, the chief executive officer now owns 7,758,632 shares in the company, valued at $84,879,434.08. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 259,021 shares of company stock worth $2,610,335 in the last ninety days. 11.60% of the stock is currently owned by insiders.

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.