Geode Capital Management LLC Has $6.83 Million Stake in EverCommerce Inc. (NASDAQ:EVCM)

Geode Capital Management LLC lowered its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 619,901 shares of the company’s stock after selling 7,376 shares during the quarter. Geode Capital Management LLC owned 0.34% of EverCommerce worth $6,826,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in EverCommerce by 0.7% in the fourth 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. American Century Companies Inc. lifted its position in EverCommerce by 32.3% in the 4th quarter. American Century Companies Inc. now owns 22,753 shares of the company’s stock valued at $251,000 after acquiring an additional 5,554 shares in the last quarter. State Street Corp boosted its stake in EverCommerce by 2.4% in the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after purchasing an additional 12,156 shares during the period. Barclays PLC increased its holdings in EverCommerce by 305.6% during the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock worth $307,000 after purchasing an additional 22,360 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in EverCommerce by 48.6% during the 4th quarter. JPMorgan Chase & Co. now owns 152,010 shares of the company’s stock worth $1,695,000 after purchasing an additional 49,745 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

EverCommerce Stock Performance

Shares of EVCM stock opened at $10.25 on Friday. The company has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $10.63. EverCommerce Inc. has a one year low of $8.10 and a one year high of $12.35. The stock has a market cap of $1.88 billion, a P/E ratio of -36.61 and a beta of 1.06. 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 (NASDAQ:EVCM) last issued its earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) earnings per share. As a group, equities analysts predict that EverCommerce Inc. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EVCM shares. Oppenheimer reduced their price objective on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Piper Sandler reduced their price target on EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Jefferies Financial Group lowered their price objective on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, March 14th. Royal Bank of Canada reduced their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Finally, The Goldman Sachs Group decreased their target price 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, EverCommerce has an average rating of “Hold” and an average target price of $11.09.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 7,026 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.94, for a total transaction of $76,864.44. Following the transaction, the chief executive officer now owns 7,758,632 shares in the company, valued at approximately $84,879,434.08. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew David Feierstein sold 2,888 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total value of $28,908.88. Following the completion of the sale, the president now owns 2,209,807 shares of the company’s stock, valued at $22,120,168.07. This trade represents a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,071 shares of company stock valued at $2,756,407 over the last ninety days. 11.60% of the stock is currently owned by company insiders.

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.