Dimensional Fund Advisors LP Trims Stock Holdings in EverCommerce Inc. (NASDAQ:EVCM)

Dimensional Fund Advisors LP reduced its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 25.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,147 shares of the company's stock after selling 100,997 shares during the quarter. Dimensional Fund Advisors LP owned 0.16% of EverCommerce worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of EVCM. Charles Schwab Investment Management Inc. increased its position in EverCommerce by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company's stock valued at $1,856,000 after acquiring an additional 1,092 shares during the last quarter. Wells Fargo & Company MN increased its position in EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock valued at $116,000 after acquiring an additional 3,106 shares during the last quarter. Barclays PLC increased its position in EverCommerce by 11.2% during the fourth quarter. Barclays PLC now owns 32,989 shares of the company's stock valued at $363,000 after acquiring an additional 3,312 shares during the last quarter. American Century Companies Inc. increased its position in EverCommerce by 32.3% during the fourth quarter. American Century Companies Inc. now owns 22,753 shares of the company's stock valued at $251,000 after acquiring an additional 5,554 shares during the last quarter. Finally, Quinn Opportunity Partners LLC purchased a new stake in EverCommerce during the fourth quarter valued at $165,000. 97.91% of the stock is owned by institutional investors.

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 7,026 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.94, for a total transaction of $76,864.44. Following the completion of the transaction, the chief executive officer now directly owns 7,758,632 shares of the company's stock, valued at approximately $84,879,434.08. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa E. Storey sold 2,941 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $11.39, for a total value of $33,497.99. Following the transaction, the insider now directly owns 214,593 shares of the company's stock, valued at approximately $2,444,214.27. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 284,538 shares of company stock valued at $2,880,773. Insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

EVCM has been the subject of a number of research reports. Oppenheimer reduced their price objective on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group upped their price objective on EverCommerce from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, May 12th. The Goldman Sachs Group reduced their price target on EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 14th. Jefferies Financial Group reduced their price target on EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a research report on Friday, March 14th. Finally, Piper Sandler reduced their price target on EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, EverCommerce presently has an average rating of "Hold" and an average price target of $11.36.

EverCommerce Price Performance

Shares of NASDAQ EVCM traded down $0.30 during mid-day trading on Friday, reaching $10.36. The company's stock had a trading volume of 197,393 shares, compared to its average volume of 137,503. The firm has a market capitalization of $1.89 billion, a PE ratio of -37.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a fifty day moving average of $10.10 and a two-hundred day moving average of $10.62. EverCommerce Inc. has a 52 week low of $8.10 and a 52 week high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The business had revenue of $142.27 million during the quarter, compared to the consensus estimate of $146.28 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business's revenue was down 16.3% on a year-over-year basis. During the same period last year, the company earned ($0.09) EPS. As a group, sell-side analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current fiscal 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.