Wells Fargo & Company MN Boosts Position in EverCommerce Inc. (NASDAQ:EVCM)

Wells Fargo & Company MN increased its stake in EverCommerce Inc. (NASDAQ:EVCM) by 41.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,553 shares of the company’s stock after buying an additional 3,106 shares during the period. Wells Fargo & Company MN’s holdings in EverCommerce were worth $116,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in EVCM. American Century Companies Inc. increased its stake in EverCommerce by 32.3% in the 4th quarter. American Century Companies Inc. now owns 22,753 shares of the company’s stock worth $251,000 after buying an additional 5,554 shares during the period. Barclays PLC increased its stake in EverCommerce by 305.6% in the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after buying an additional 22,360 shares during the period. ExodusPoint Capital Management LP purchased a new position in EverCommerce in the 4th quarter worth about $517,000. Raymond James Financial Inc. purchased a new position in EverCommerce in the 4th quarter worth about $694,000. Finally, JPMorgan Chase & Co. increased its stake in EverCommerce by 161.4% in the 3rd 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 period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Stock Up 6.3%

EVCM stock opened at $11.00 on Monday. The company’s 50 day moving average price is $9.95 and its 200 day moving average price is $10.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. EverCommerce Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -39.28 and a beta of 1.07.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $142.27 million during the quarter, compared to analysts’ expectations of $146.28 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business’s revenue for the quarter was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) earnings per share. On average, equities research analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other EverCommerce news, President Matthew David Feierstein sold 24,300 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $10.02, for a total value of $243,486.00. Following the completion of the transaction, the president now owns 2,341,006 shares in the company, valued at approximately $23,456,880.12. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric Richard Remer sold 7,026 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.94, for a total value of $76,864.44. Following the completion of the transaction, the chief executive officer now owns 7,758,632 shares of the company’s stock, valued at $84,879,434.08. The trade was a 0.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,099 shares of company stock valued at $2,708,180. 11.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on EVCM. Piper Sandler cut their target price on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Royal Bank of Canada cut their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Oppenheimer cut their target price on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Jefferies Financial Group cut their target price on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, March 14th. Finally, Barclays lowered their price target 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, EverCommerce presently has a consensus rating of “Hold” and an average price target of $10.90.

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.