Woodline Partners LP Has $5.65 Million Stock Holdings 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 lifted its position in EverCommerce Inc. (NASDAQ:EVCM - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,506 shares of the company's stock after buying an additional 25,412 shares during the quarter. Woodline Partners LP owned about 0.31% of EverCommerce worth $5,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of EverCommerce in the fourth quarter valued at $29,000. Deutsche Bank AG raised its holdings in shares of EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after purchasing an additional 3,667 shares during the period. GAMMA Investing LLC raised its holdings in shares of EverCommerce by 838.8% in the 1st quarter. GAMMA Investing LLC now owns 7,116 shares of the company's stock valued at $706,000 after purchasing an additional 6,358 shares during the period. EntryPoint Capital LLC bought a new stake in shares of EverCommerce in the 1st quarter valued at about $102,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of EverCommerce in the 4th quarter valued at about $119,000. 97.91% of the stock is owned by institutional investors.

Insider Transactions at EverCommerce

In other news, President Matthew David Feierstein sold 25,000 shares of EverCommerce stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the sale, the president owned 2,211,383 shares of the company's stock, valued at approximately $24,855,944.92. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric Richard Remer sold 4,079 shares of EverCommerce stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $11.13, for a total value of $45,399.27. Following the sale, the chief executive officer directly owned 5,168,663 shares of the company's stock, valued at $57,527,219.19. This represents a 0.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 305,500 shares of company stock valued at $3,243,844. 10.40% of the stock is currently owned by corporate insiders.

EverCommerce Trading Down 0.6%

EVCM stock opened at $11.85 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.37 and a quick ratio of 2.37. The company has a fifty day moving average price of $11.08 and a two-hundred day moving average price of $10.39. EverCommerce Inc. has a one year low of $8.10 and a one year high of $12.34. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -98.74, a price-to-earnings-growth ratio of 10.31 and a beta of 1.06.

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

Analysts Set New Price Targets

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

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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