Edgestream Partners L.P. Makes New Investment in EverCommerce Inc. (NASDAQ:EVCM)

Edgestream Partners L.P. bought a new stake in shares of EverCommerce Inc. (NASDAQ:EVCM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 51,777 shares of the company’s stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors also recently modified their holdings of EVCM. Vanguard Group Inc. boosted its position in EverCommerce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after acquiring an additional 30,481 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in EverCommerce by 57.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock worth $512,000 after purchasing an additional 20,000 shares during the period. Bank of New York Mellon Corp grew its stake 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 worth $1,805,000 after purchasing an additional 9,595 shares during the period. Dimensional Fund Advisors LP raised its holdings in EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after purchasing an additional 95,934 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in EverCommerce by 19.4% during the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock valued at $182,000 after buying an additional 2,700 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,099 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $10.69, for a total value of $75,888.31. Following the transaction, the chief executive officer now owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 130,708 shares of company stock worth $1,436,159 over the last quarter. Company insiders own 11.60% of the company’s stock.

EverCommerce Price Performance

Shares of NASDAQ EVCM opened at $12.03 on Friday. The firm has a market cap of $2.21 billion, a P/E ratio of -42.96 and a beta of 1.12. EverCommerce Inc. has a twelve month low of $6.22 and a twelve month high of $12.35. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $10.99 and a 200 day moving average of $10.71.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $176.26 million during the quarter, compared to analysts’ expectations of $174.87 million. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts expect that EverCommerce Inc. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

EVCM has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler upped their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. JMP Securities lifted their target price on shares of EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Oppenheimer upped their price target on EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Barclays raised their price objective on EverCommerce from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, EverCommerce has a consensus rating of “Moderate Buy” and an average price target of $12.56.

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.