The Manufacturers Life Insurance Company Buys 1,089 Shares of EverCommerce Inc. (NASDAQ:EVCM)

The Manufacturers Life Insurance Company lifted its stake in EverCommerce Inc. (NASDAQ:EVCM) by 10.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,360 shares of the company’s stock after purchasing an additional 1,089 shares during the period. The Manufacturers Life Insurance Company’s holdings in EverCommerce were worth $125,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EVCM. Vanguard Group Inc. raised its stake in shares of EverCommerce by 1.9% during the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after buying an additional 30,481 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of EverCommerce by 39.2% during the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after purchasing an additional 95,934 shares during the period. Millennium Management LLC increased its holdings in EverCommerce by 673.4% in the second quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock valued at $3,550,000 after purchasing an additional 281,551 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in EverCommerce by 6.2% in the second 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 during the period. Finally, AQR Capital Management LLC lifted its stake in EverCommerce by 394.8% in the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock valued at $611,000 after buying an additional 44,378 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 7,099 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $10.69, for a total transaction of $75,888.31. Following the completion of the transaction, the chief executive officer now directly owns 8,124,163 shares in the company, valued at approximately $86,847,302.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 46,633 shares of company stock valued at $489,477 in the last 90 days. 11.50% of the stock is currently owned by company insiders.

EverCommerce Stock Performance

Shares of EVCM opened at $10.74 on Monday. The firm has a market cap of $1.99 billion, a P/E ratio of -51.14 and a beta of 1.08. EverCommerce Inc. has a twelve month low of $6.22 and a twelve month high of $12.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68. The firm’s 50 day moving average price is $10.35 and its two-hundred day moving average price is $10.27.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) 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 analyst estimates of $171.88 million. EverCommerce had a negative return on equity of 5.33% and a negative net margin of 6.31%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts forecast that EverCommerce Inc. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

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