Arrowstreet Capital Limited Partnership Buys 547,712 Shares of EverCommerce Inc. $EVCM

Arrowstreet Capital Limited Partnership boosted its stake in EverCommerce Inc. (NASDAQ:EVCM) by 328.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 714,519 shares of the company’s stock after buying an additional 547,712 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.39% of EverCommerce worth $7,502,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG boosted its holdings in shares of EverCommerce by 141.9% during the first quarter. Deutsche Bank AG now owns 9,836 shares of the company’s stock worth $99,000 after acquiring an additional 5,770 shares during the period. EntryPoint Capital LLC acquired a new stake in EverCommerce during the 1st quarter worth approximately $102,000. Prudential Financial Inc. boosted its stake in EverCommerce by 9.6% in the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after purchasing an additional 1,190 shares during the period. Inceptionr LLC acquired a new position in EverCommerce in the 2nd quarter valued at $159,000. Finally, Martingale Asset Management L P bought a new position in EverCommerce during the 1st quarter worth $202,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EverCommerce

In other EverCommerce news, insider Lisa E. Storey sold 7,651 shares of EverCommerce stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $9.84, for a total value of $75,285.84. Following the transaction, the insider owned 185,745 shares in the company, valued at $1,827,730.80. The trade was a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric Richard Remer sold 4,004 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $9.99, for a total value of $39,999.96. Following the transaction, the chief executive officer directly owned 2,829,135 shares of the company’s stock, valued at approximately $28,263,058.65. The trade was a 0.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 307,251 shares of company stock valued at $3,276,293 over the last ninety days. 10.40% of the stock is owned by corporate insiders.

EverCommerce Stock Up 4.0%

Shares of EVCM opened at $10.37 on Thursday. The firm has a 50 day simple moving average of $10.14 and a two-hundred day simple moving average of $10.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.02 and a quick ratio of 2.02. EverCommerce Inc. has a one year low of $7.66 and a one year high of $12.34. The company has a market cap of $1.86 billion, a P/E ratio of -1,035.96, a P/E/G ratio of 5.02 and a beta of 1.07.

Wall Street Analysts Forecast Growth

EVCM has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of EverCommerce in a research note on Wednesday, October 8th. Lake Street Capital set a $11.00 price target on EverCommerce in a research report on Tuesday, October 14th. Barclays lowered their price objective on EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. Zacks Research raised EverCommerce from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. Finally, Royal Bank Of Canada reduced their target price on EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.00.

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.