Millennium Management LLC Reduces Stock Position in EverCommerce Inc. (NASDAQ:EVCM)

Millennium Management LLC lowered its holdings in EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 70.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,528 shares of the company's stock after selling 27,779 shares during the quarter. Millennium Management LLC's holdings in EverCommerce were worth $127,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EVCM. Charles Schwab Investment Management Inc. lifted its stake in EverCommerce by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company's stock valued at $1,856,000 after buying an additional 1,092 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of EverCommerce by 145.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock valued at $38,000 after acquiring an additional 2,040 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of EverCommerce during the fourth quarter valued at about $29,000. Wells Fargo & Company MN boosted its stake in shares of EverCommerce by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock valued at $116,000 after purchasing an additional 3,106 shares during the period. Finally, Barclays PLC boosted its stake in shares of EverCommerce by 11.2% in the fourth quarter. Barclays PLC now owns 32,989 shares of the company's stock valued at $363,000 after purchasing an additional 3,312 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

EverCommerce Stock Down 4.1%

NASDAQ:EVCM opened at $9.42 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market cap of $1.72 billion, a PE ratio of -33.64 and a beta of 1.05. EverCommerce Inc. has a 52-week low of $8.10 and a 52-week high of $12.35. The stock has a 50-day simple moving average of $10.13 and a 200 day simple moving average of $10.43.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EVCM shares. The Goldman Sachs Group reduced their price objective on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group boosted their price objective on shares of EverCommerce from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. 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 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 report on Friday, March 14th. Finally, 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 report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.36.

Insiders Place Their Bets

In other EverCommerce news, insider Lisa E. Storey sold 2,941 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $11.39, for a total transaction of $33,497.99. Following the sale, the insider now owns 214,593 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, CEO Eric Richard Remer sold 23,119 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $11.26, for a total transaction of $260,319.94. Following the completion of the sale, the chief executive officer now owns 7,464,044 shares of the company's stock, valued at $84,045,135.44. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,614 shares of company stock valued at $2,606,811. Corporate insiders own 10.40% of the company's stock.

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.

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