The Manufacturers Life Insurance Company Sells 1,241 Shares of EverCommerce Inc. (NASDAQ:EVCM)

The Manufacturers Life Insurance Company decreased its position in shares of EverCommerce Inc. (NASDAQ:EVCM) by 10.9% during the third quarter, Holdings Channel reports. The fund owned 10,119 shares of the company’s stock after selling 1,241 shares during the period. The Manufacturers Life Insurance Company’s holdings in EverCommerce were worth $105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EVCM. Bank of New York Mellon Corp increased its position in EverCommerce by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock valued at $1,805,000 after buying an additional 9,595 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in EverCommerce by 39.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after buying an additional 95,934 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in EverCommerce by 19.4% in 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. AQR Capital Management LLC raised its position in EverCommerce by 394.8% in the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after acquiring an additional 44,378 shares during the period. Finally, Millennium Management LLC raised its holdings in EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after purchasing an additional 281,551 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

EVCM has been the subject of a number of analyst reports. Piper Sandler increased their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. JMP Securities upped their price target on EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on shares of EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Barclays upped their target price on shares of EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Oppenheimer increased their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.56.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 4,464 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $12.06, for a total value of $53,835.84. Following the transaction, the chief executive officer now directly owns 7,921,059 shares in the company, valued at $95,527,971.54. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Matthew David Feierstein sold 7,455 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $12.06, for a total value of $89,907.30. Following the transaction, the president now owns 2,239,169 shares of the company’s stock, valued at approximately $27,004,378.14. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,421 shares of company stock worth $1,792,578 in the last 90 days. Insiders own 11.60% of the company’s stock.

EverCommerce Price Performance

Shares of EVCM opened at $12.01 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -42.89 and a beta of 1.12. EverCommerce Inc. has a twelve month low of $6.22 and a twelve month high of $12.35. The company has a 50 day moving average of $11.27 and a two-hundred day moving average of $10.81.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The company had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current fiscal year.

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.