Woodline Partners LP Has $5.65 Million Position in EverCommerce Inc. $EVCM

Key Points

• Woodline Partners LP increased its holdings in EverCommerce Inc. by 4.7% in Q1, owning approximately 560,506 shares worth $5.65 million.
• Insider transactions include President Matthew David Feierstein selling 25,000 shares and CEO Eric Richard Remer selling 4,079 shares in early September, reflecting a slight decrease in their ownership.
• EverCommerce reported an adjusted EPS of $0.03, surpassing estimates, with quarterly revenue of $148.02 million, indicating a 5.3% year-over-year growth.

Woodline Partners LP increased its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 560,506 shares of the company's stock after purchasing an additional 25,412 shares during the quarter. Woodline Partners LP owned approximately 0.31% of EverCommerce worth $5,650,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Martingale Asset Management L P acquired a new position in EverCommerce during the first quarter worth $202,000. EntryPoint Capital LLC acquired a new position in EverCommerce during the first quarter worth $102,000. Nuveen LLC acquired a new position in EverCommerce during the first quarter worth $493,000. Deutsche Bank AG boosted its holdings in EverCommerce by 141.9% during the first quarter. Deutsche Bank AG now owns 9,836 shares of the company's stock worth $99,000 after purchasing an additional 5,770 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in EverCommerce by 129.1% during the first quarter. Mackenzie Financial Corp now owns 26,372 shares of the company's stock worth $266,000 after purchasing an additional 14,861 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Activity

In other news, CFO Ryan H. Siurek sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $10.62, for a total value of $106,200.00. Following the sale, the chief financial officer directly owned 245,549 shares in the company, valued at approximately $2,607,730.38. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric Richard Remer sold 4,079 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $11.13, for a total transaction of $45,399.27. Following the completion of the sale, the chief executive officer owned 5,168,663 shares in the company, valued at approximately $57,527,219.19. The trade was a 0.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,000 shares of company stock worth $3,009,847. Corporate insiders own 10.40% of the company's stock.

EverCommerce Stock Performance

NASDAQ:EVCM traded up $0.33 during mid-day trading on Thursday, reaching $12.14. 74,833 shares of the company's stock were exchanged, compared to its average volume of 182,677. The firm has a market capitalization of $2.20 billion, a PE ratio of -101.23, a price-to-earnings-growth ratio of 10.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.37 and a current ratio of 2.37. EverCommerce Inc. has a one year low of $8.10 and a one year high of $12.34. The business's fifty day simple moving average is $11.14 and its two-hundred day simple moving average is $10.43.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. The firm had revenue of $148.02 million for the quarter, compared to the consensus estimate of $145.80 million. EverCommerce had a negative net margin of 3.27% and a negative return on equity of 1.96%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. Analysts anticipate that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EVCM has been the subject of a number of recent analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $13.00 price target (up previously from $12.00) on shares of EverCommerce in a research note on Thursday, August 7th. Zacks Research upgraded shares of EverCommerce from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Piper Sandler increased their price target on shares of EverCommerce from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, EverCommerce presently has an average rating of "Moderate Buy" and a consensus price target of $11.50.

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.