Woodline Partners LP Increases Position in EverCommerce Inc. (NASDAQ:EVCM)

Woodline Partners LP boosted its holdings in EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 535,094 shares of the company's stock after purchasing an additional 106,359 shares during the quarter. Woodline Partners LP owned about 0.29% of EverCommerce worth $5,891,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in EverCommerce in the fourth quarter worth $29,000. Tower Research Capital LLC TRC boosted its holdings in EverCommerce by 145.8% during the 4th 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 period. Deutsche Bank AG boosted its holdings in EverCommerce by 919.0% during the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after acquiring an additional 3,667 shares during the period. Wells Fargo & Company MN lifted its holdings in EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after buying an additional 3,106 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of EverCommerce in the 4th quarter worth approximately $119,000. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 8,688 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $9.51, for a total transaction of $82,622.88. Following the transaction, the chief executive officer now directly owns 7,716,630 shares in the company, valued at $73,385,151.30. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Lisa E. Storey sold 2,941 shares of the company'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 transaction, the insider now owns 214,593 shares in the company, valued at $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. In the last quarter, insiders sold 269,500 shares of company stock worth $2,719,142. Insiders own 11.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on EVCM shares. Barclays lifted their target price on EverCommerce from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Piper Sandler reduced their price objective on EverCommerce from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Oppenheimer lowered their price target on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Royal Bank of Canada reduced their price target 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, Jefferies Financial Group reduced their price target on EverCommerce from $12.00 to $10.00 and set a "hold" rating on the stock in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $11.36.

EverCommerce Price Performance

EverCommerce stock traded down $0.03 during midday trading on Thursday, reaching $10.04. The company had a trading volume of 51,331 shares, compared to its average volume of 137,029. The company has a market capitalization of $1.83 billion, a P/E ratio of -35.84 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. EverCommerce Inc. has a 12-month low of $8.10 and a 12-month high of $12.35. The firm's fifty day simple moving average is $10.14 and its 200-day simple moving average is $10.56.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the business earned ($0.09) EPS. The firm's quarterly revenue was down 16.3% on a year-over-year basis. As a group, equities analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current year.

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.