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

Millennium Management LLC lowered its stake in shares of EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 70.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in EverCommerce during the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC lifted its stake 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 worth $38,000 after buying an additional 2,040 shares during the period. Deutsche Bank AG grew its holdings in shares of EverCommerce by 919.0% during the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after buying an additional 3,667 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of EverCommerce by 41.7% in the 4th 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 period. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of EverCommerce in the 4th quarter valued at $119,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Stock Performance

Shares of EVCM traded up $0.13 during trading hours on Tuesday, hitting $9.68. The stock had a trading volume of 279,819 shares, compared to its average volume of 138,293. The firm has a 50-day moving average price of $10.12 and a 200 day moving average price of $10.38. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -53.78 and a beta of 1.05. EverCommerce Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.29 and a current ratio of 2.29.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The business had revenue of $142.27 million for the quarter, compared to analyst estimates of $146.28 million. EverCommerce had a negative net margin of 4.84% and a negative return on equity of 3.13%. EverCommerce's revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) earnings per share. As a group, research analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group lowered 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. Piper Sandler decreased their target price on EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Barclays increased their price target on shares of EverCommerce from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Oppenheimer decreased their price objective on shares of EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Finally, Canaccord Genuity Group upped their price objective on shares of EverCommerce from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.36.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 8,149 shares of EverCommerce stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $9.41, for a total value of $76,682.09. Following the sale, the chief executive officer now owns 7,560,663 shares in the company, valued at $71,145,838.83. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lisa E. Storey sold 2,941 shares of the business'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 directly owns 214,593 shares of the company's stock, valued at $2,444,214.27. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,670 shares of company stock valued at $2,418,489. Company insiders own 10.40% of the company's stock.

About EverCommerce

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.