Northern Trust Corp Acquires 7,954 Shares of EverCommerce Inc. (NASDAQ:EVCM)

Northern Trust Corp increased its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,283 shares of the company’s stock after buying an additional 7,954 shares during the period. Northern Trust Corp owned 0.11% of EverCommerce worth $2,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EVCM. JPMorgan Chase & Co. raised its stake in shares of EverCommerce by 161.4% during the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after buying an additional 63,139 shares during the last quarter. Raymond James Financial Inc. acquired a new position in EverCommerce during the fourth quarter valued at approximately $694,000. Arrowstreet Capital Limited Partnership grew its holdings in EverCommerce by 84.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock valued at $1,468,000 after purchasing an additional 61,144 shares during the period. ExodusPoint Capital Management LP acquired a new position in EverCommerce during the fourth quarter valued at approximately $517,000. Finally, Mariner LLC grew its holdings in EverCommerce by 54.8% during the fourth quarter. Mariner LLC now owns 63,761 shares of the company’s stock valued at $702,000 after purchasing an additional 22,560 shares during the period. 97.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EVCM has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, March 17th. The Goldman Sachs Group reduced their price target on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 14th. Barclays upped their price target on shares of EverCommerce from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Royal Bank of Canada reduced their price target 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, Jefferies Financial Group reduced their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.36.

EverCommerce Stock Performance

NASDAQ:EVCM opened at $9.72 on Monday. The company has a fifty day moving average of $10.15 and a 200-day moving average of $10.58. The firm has a market capitalization of $1.77 billion, a P/E ratio of -34.71 and a beta of 1.07. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce Inc. has a twelve month low of $8.10 and a twelve month high of $12.35.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The business had revenue of $142.27 million during the quarter, compared to analyst estimates of $146.28 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. As a group, sell-side analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 10,117 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total value of $91,558.85. Following the completion of the transaction, the chief executive officer now owns 7,686,872 shares in the company, valued at approximately $69,566,191.60. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lisa E. Storey sold 2,941 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $11.39, for a total value of $33,497.99. Following the transaction, the insider now owns 214,593 shares of the company’s stock, 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. Insiders sold a total of 269,500 shares of company stock worth $2,719,142 over the last quarter. 11.60% of the stock is owned by corporate insiders.

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.