Jane Street Group LLC Cuts Stock Position in EverCommerce Inc. (NASDAQ:EVCM)

Jane Street Group LLC trimmed its holdings in shares of EverCommerce Inc. (NASDAQ:EVCM) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,653 shares of the company’s stock after selling 3,711 shares during the period. Jane Street Group LLC’s holdings in EverCommerce were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Millennium Management LLC lifted 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 buying an additional 281,551 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after acquiring an additional 95,934 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in EverCommerce in the third quarter valued at about $570,000. Edgestream Partners L.P. acquired a new stake in EverCommerce during the 3rd quarter valued at approximately $536,000. Finally, AQR Capital Management LLC increased its holdings in 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 during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays raised their price target 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. Royal Bank of Canada boosted their target price on shares of EverCommerce from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Oppenheimer increased their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JMP Securities boosted their price objective on EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler increased their target price on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.56.

Insider Activity

In other news, CEO Eric Richard Remer sold 5,988 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $10.11, for a total transaction of $60,538.68. Following the completion of the sale, the chief executive officer now directly owns 8,089,640 shares of the company’s stock, valued at $81,786,260.40. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Matthew David Feierstein sold 17,545 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $11.92, for a total transaction of $209,136.40. Following the completion of the transaction, the president now owns 2,246,624 shares of the company’s stock, valued at approximately $26,779,758.08. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,722 shares of company stock worth $1,746,522 over the last three months. Corporate insiders own 11.60% of the company’s stock.

EverCommerce Stock Down 3.0 %

EVCM stock opened at $11.15 on Friday. 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 firm’s 50-day simple moving average is $11.46 and its 200 day simple moving average is $10.91. The stock has a market cap of $2.05 billion, a PE ratio of -39.82 and a beta of 1.12. EverCommerce Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $12.35.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. The company’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that EverCommerce Inc. will post -0.17 EPS for the current year.

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.