Jane Street Group LLC Decreases Holdings in EverCommerce Inc. (NASDAQ:EVCM)

Jane Street Group LLC trimmed its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 30.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,984 shares of the company's stock after selling 43,669 shares during the period. Jane Street Group LLC owned 0.06% of EverCommerce worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in EVCM. JPMorgan Chase & Co. raised its stake in EverCommerce by 161.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company's stock valued at $1,059,000 after acquiring an additional 63,139 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in EverCommerce by 0.7% during the 4th 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. Raymond James Financial Inc. purchased a new stake in EverCommerce during the 4th quarter valued at approximately $694,000. American Century Companies Inc. raised its stake in EverCommerce by 32.3% during the 4th 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, Arrowstreet Capital Limited Partnership raised its stake in EverCommerce by 84.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company's stock valued at $1,468,000 after acquiring an additional 61,144 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. 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 note on Monday, May 12th. Barclays boosted their target price on EverCommerce from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Oppenheimer dropped their target price on EverCommerce from $13.00 to $12.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. Royal Bank of Canada dropped their target price on EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. Finally, The Goldman Sachs Group dropped their target price on EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $11.36.

EverCommerce Stock Performance

NASDAQ EVCM opened at $10.01 on Thursday. 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 stock has a market cap of $1.83 billion, a P/E ratio of -35.75 and a beta of 1.07. EverCommerce Inc. has a twelve month low of $8.10 and a twelve month high of $12.35. The company's 50-day simple moving average is $10.15 and its 200 day simple moving average is $10.61.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released 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). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company had revenue of $142.27 million for the quarter, compared to the consensus estimate of $146.28 million. During the same period last year, the company earned ($0.09) earnings per share. EverCommerce's revenue for the quarter was down 16.3% compared to the same quarter last year. As a group, research analysts forecast that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Lisa E. Storey sold 2,941 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 214,593 shares of the company's stock, valued at approximately $2,444,214.27. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric Richard Remer sold 8,688 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $9.51, for a total transaction of $82,622.88. Following the sale, the chief executive officer now owns 7,716,630 shares of the company's stock, valued at approximately $73,385,151.30. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,500 shares of company stock worth $2,719,142. Company insiders own 11.60% of the company's stock.

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.

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