Bank of America Corp DE Acquires 5,347 Shares of EverCommerce Inc. (NASDAQ:EVCM)

Bank of America Corp DE increased its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,820 shares of the company’s stock after acquiring an additional 5,347 shares during the quarter. Bank of America Corp DE’s holdings in EverCommerce were worth $493,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of EVCM. Charles Schwab Investment Management Inc. increased its holdings in EverCommerce by 0.7% in the 4th 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 during the period. Raymond James Financial Inc. bought a new position in EverCommerce in the 4th quarter valued at about $694,000. American Century Companies Inc. increased its holdings 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 buying an additional 5,554 shares during the period. JPMorgan Chase & Co. increased its holdings in EverCommerce by 48.6% in the 4th quarter. JPMorgan Chase & Co. now owns 152,010 shares of the company’s stock valued at $1,695,000 after buying an additional 49,745 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in EverCommerce by 84.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock valued at $1,468,000 after buying an additional 61,144 shares during the period. 97.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EVCM. Piper Sandler decreased their target price on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Jefferies Financial Group decreased their target price 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. Barclays raised their target price 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 decreased their target price on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Finally, Oppenheimer decreased their target price on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.36.

Insider Activity at EverCommerce

In related news, President Matthew David Feierstein sold 24,300 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $10.02, for a total value of $243,486.00. Following the completion of the sale, the president now directly owns 2,341,006 shares in the company, valued at $23,456,880.12. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lisa E. Storey sold 9,574 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $11.23, for a total value of $107,516.02. Following the completion of the sale, the insider now owns 214,593 shares of the company’s stock, valued at $2,409,879.39. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,731 shares of company stock worth $2,698,370 over the last three months. Company insiders own 10.40% of the company’s stock.

EverCommerce Stock Performance

NASDAQ EVCM opened at $10.26 on Wednesday. The firm’s fifty day moving average price is $10.12 and its two-hundred day moving average price is $10.47. The stock has a market cap of $1.87 billion, a PE ratio of -36.64 and a beta of 1.05. EverCommerce Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81.

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

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.