AQR Capital Management LLC Acquires 44,378 Shares of EverCommerce Inc. (NASDAQ:EVCM)

AQR Capital Management LLC lifted its position in EverCommerce Inc. (NASDAQ:EVCM) by 394.8% in the 2nd quarter, Holdings Channel reports. The fund owned 55,620 shares of the company’s stock after acquiring an additional 44,378 shares during the quarter. AQR Capital Management LLC’s holdings in EverCommerce were worth $611,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of EverCommerce by 39.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after buying an additional 95,934 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of EverCommerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after purchasing an additional 30,481 shares during the last quarter. RIA Advisory Group LLC bought a new stake in shares of EverCommerce in the first quarter worth about $242,000. DekaBank Deutsche Girozentrale grew its position in EverCommerce by 57.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock worth $512,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in EverCommerce in the first quarter worth about $123,000. Institutional investors own 97.91% of the company’s stock.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 10,311 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $10.69, for a total transaction of $110,224.59. Following the completion of the sale, the chief executive officer now owns 8,138,352 shares of the company’s stock, valued at $86,998,982.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 41,799 shares of company stock worth $438,333 in the last 90 days. Corporate insiders own 11.50% of the company’s stock.

EverCommerce Price Performance

Shares of EverCommerce stock opened at $10.27 on Monday. The firm has a fifty day simple moving average of $10.31 and a 200-day simple moving average of $10.22. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67. EverCommerce Inc. has a 1-year low of $6.22 and a 1-year 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The company had revenue of $177.39 million for the quarter, compared to the consensus estimate of $171.88 million. EverCommerce had a negative return on equity of 5.33% and a negative net margin of 6.31%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that EverCommerce Inc. will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

EVCM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI boosted their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.45.

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.