Bank of New York Mellon Corp Has $579,000 Stake in EverCommerce Inc. (NASDAQ:EVCM)

Bank of New York Mellon Corp reduced its position in shares of EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 63.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,618 shares of the company's stock after selling 92,521 shares during the period. Bank of New York Mellon Corp's holdings in EverCommerce were worth $579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC grew its stake in EverCommerce by 305.6% during 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. Edgestream Partners L.P. acquired a new stake in shares of EverCommerce during the third quarter worth approximately $536,000. JPMorgan Chase & Co. increased its stake 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 buying an additional 63,139 shares during the last quarter. Janus Henderson Group PLC raised its holdings in EverCommerce by 1.2% in the third 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. Finally, State Street Corp boosted 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 acquiring an additional 12,156 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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EverCommerce Stock Performance

EVCM stock traded down $0.04 during mid-day trading on Monday, reaching $10.08. The company had a trading volume of 225,408 shares, compared to its average volume of 137,149. The stock's 50-day simple moving average is $10.14 and its two-hundred day simple moving average is $10.70. The stock has a market capitalization of $1.85 billion, a P/E ratio of -36.00 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 one year low of $8.10 and a one year high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its 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 firm had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 10,117 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total value of $91,558.85. Following the transaction, the chief executive officer now owns 7,686,872 shares of the company's stock, valued at approximately $69,566,191.60. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Matthew David Feierstein sold 15,837 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $10.02, for a total value of $158,686.74. Following the sale, the president now directly owns 2,392,252 shares of the company's stock, valued at approximately $23,970,365.04. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,363 shares of company stock worth $2,439,272 in the last 90 days. Corporate insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EVCM. Piper Sandler dropped their target price on shares of EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada cut their price objective on EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Oppenheimer reduced their target price on EverCommerce from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Barclays lowered their price target on EverCommerce from $12.00 to $9.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Finally, Jefferies Financial Group reduced their price objective on EverCommerce from $12.00 to $10.00 and set a "hold" rating on the stock in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $11.09.

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.