GAMMA Investing LLC Buys 6,358 Shares of EverCommerce Inc. (NASDAQ:EVCM)

GAMMA Investing LLC raised its holdings in EverCommerce Inc. (NASDAQ:EVCM) by 838.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,116 shares of the company’s stock after buying an additional 6,358 shares during the period. GAMMA Investing LLC’s holdings in EverCommerce were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of EverCommerce by 48.6% in the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of EverCommerce in the fourth quarter valued at $694,000. Charles Schwab Investment Management Inc. lifted its stake in shares of 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. Janus Henderson Group PLC lifted its stake in shares of EverCommerce by 34.6% in the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock valued at $4,716,000 after buying an additional 110,183 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in shares of EverCommerce by 24.8% in the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after buying an additional 106,359 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on EVCM. Jefferies Financial Group dropped their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group dropped their price target on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 14th. Oppenheimer dropped their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Piper Sandler dropped their price target on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Royal Bank Of Canada dropped their price target on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.36.

EverCommerce Stock Performance

NASDAQ EVCM opened at $9.68 on Wednesday. EverCommerce Inc. has a 52-week low of $8.10 and a 52-week high of $12.35. The company has a 50-day simple moving average of $10.12 and a 200 day simple moving average of $10.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.29 and a current ratio of 2.29. The company has a market capitalization of $1.77 billion, a PE ratio of -53.78 and a beta of 1.05.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) 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 analysts’ expectations of $146.28 million. EverCommerce had a negative return on equity of 3.13% and a negative net margin of 4.84%. The business’s quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. On average, research analysts predict that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In other news, CEO Eric Richard Remer sold 7,134 shares of EverCommerce stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $10.02, for a total value of $71,482.68. Following the completion of the transaction, the chief executive officer now owns 7,536,163 shares in the company, valued at $75,512,353.26. This trade represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa E. Storey sold 2,941 shares of EverCommerce stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $11.39, for a total transaction of $33,497.99. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 220,833 shares of company stock worth $2,259,803 over the last quarter. Corporate insiders own 10.40% of the company’s stock.

EverCommerce Company 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.