Edgestream Partners L.P. Acquires New Position in EverCommerce Inc. (NASDAQ:EVCM)

Edgestream Partners L.P. bought a new position in shares of EverCommerce Inc. (NASDAQ:EVCM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 51,777 shares of the company's stock, valued at approximately $536,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of EverCommerce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company's stock worth $15,684,000 after acquiring an additional 30,481 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company's stock valued at $3,740,000 after buying an additional 95,934 shares in the last quarter. Millennium Management LLC boosted its position in EverCommerce by 673.4% in the second quarter. Millennium Management LLC now owns 323,360 shares of the company's stock valued at $3,550,000 after buying an additional 281,551 shares in the last quarter. Bank of New York Mellon Corp boosted its position in EverCommerce by 6.2% in 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. Finally, AQR Capital Management LLC boosted its position in EverCommerce by 394.8% in the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company's stock valued at $611,000 after buying an additional 44,378 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Buying and Selling

In related news, CEO Eric Richard Remer sold 10,311 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $10.69, for a total transaction of $110,224.59. Following the sale, the chief executive officer now directly owns 8,138,352 shares of the company's stock, valued at approximately $86,998,982.88. This represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 130,708 shares of company stock worth $1,436,159 in the last three months. 11.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

EverCommerce Trading Down 1.3 %

NASDAQ:EVCM traded down $0.16 during midday trading on Friday, reaching $11.87. 49,777 shares of the stock traded hands, compared to its average volume of 138,624. The company has a fifty day moving average of $11.02 and a 200 day moving average of $10.72. EverCommerce Inc. has a 12 month low of $6.22 and a 12 month high of $12.35. 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 stock has a market capitalization of $2.18 billion, a P/E ratio of -42.96 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business's revenue was up .9% on a year-over-year basis. On average, research analysts predict that EverCommerce Inc. will post -0.17 EPS for the current year.

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.