EverCommerce Inc. (NASDAQ:EVCM) Stake Boosted by Millennium Management LLC

Millennium Management LLC lifted its stake in shares of EverCommerce Inc. (NASDAQ:EVCM) by 673.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 323,360 shares of the company’s stock after acquiring an additional 281,551 shares during the period. Millennium Management LLC’s holdings in EverCommerce were worth $3,550,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Edgestream Partners L.P. bought a new stake in shares of EverCommerce during the 1st quarter worth $123,000. Renaissance Technologies LLC increased its stake in EverCommerce by 19.4% during the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock valued at $182,000 after acquiring an additional 2,700 shares during the period. RIA Advisory Group LLC acquired a new position in EverCommerce in the 1st quarter valued at approximately $242,000. DekaBank Deutsche Girozentrale lifted its position in shares of EverCommerce by 57.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock worth $512,000 after acquiring an additional 20,000 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of EverCommerce by 394.8% during the 2nd quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after purchasing an additional 44,378 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Eric Richard Remer sold 5,436 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $10.09, for a total transaction of $54,849.24. Following the sale, the chief executive officer now directly owns 8,100,550 shares of the company’s stock, valued at $81,734,549.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 41,799 shares of company stock valued at $438,333. Insiders own 11.50% of the company’s stock.

EverCommerce Trading Up 1.6 %

EVCM stock opened at $10.27 on Monday. The business has a fifty day moving average price of $10.31 and a 200 day moving average price of $10.22. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.68 and a quick ratio of 1.68. EverCommerce Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -48.90 and a beta of 1.08.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $177.39 million during the quarter, compared to analyst estimates of $171.88 million. EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. The business’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that EverCommerce Inc. will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.45.

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.