Raymond James Financial Inc. Acquires Shares of 63,000 EverCommerce Inc. (NASDAQ:EVCM)

Raymond James Financial Inc. bought a new position in EverCommerce Inc. (NASDAQ:EVCM) during the fourth quarter, Holdings Channel.com reports. The firm bought 63,000 shares of the company’s stock, valued at approximately $694,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC grew its position in shares of EverCommerce by 305.6% during the 3rd quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after acquiring an additional 22,360 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of EverCommerce by 161.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after purchasing an additional 63,139 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in EverCommerce by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock valued at $1,856,000 after purchasing an additional 1,092 shares during the last quarter. Janus Henderson Group PLC grew its holdings in EverCommerce by 1.2% during the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock valued at $3,296,000 after purchasing an additional 3,837 shares during the period. Finally, State Street Corp increased its position in EverCommerce by 2.4% in the third quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after buying an additional 12,156 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Price Performance

EVCM stock opened at $9.58 on Monday. The firm has a market cap of $1.76 billion, a P/E ratio of -34.21 and a beta of 1.06. The firm’s fifty day moving average is $10.11 and its 200 day moving average is $10.68. EverCommerce Inc. has a 52 week low of $8.10 and a 52 week high of $12.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The company had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $170.48 million. During the same period last year, the firm earned ($0.12) earnings per share. EverCommerce’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts predict that EverCommerce Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other EverCommerce news, CEO Eric Richard Remer sold 5,713 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $10.15, for a total value of $57,986.95. Following the completion of the transaction, the chief executive officer now directly owns 7,880,059 shares in the company, valued at approximately $79,982,598.85. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 21,624 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $10.13, for a total transaction of $219,051.12. Following the transaction, the president now owns 2,370,628 shares in the company, valued at $24,014,461.64. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 268,062 shares of company stock valued at $2,710,669 in the last quarter. Insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EVCM. The Goldman Sachs Group cut their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 14th. Oppenheimer lowered their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Piper Sandler cut their price target on EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Barclays lowered their price target on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Finally, Jefferies Financial Group dropped their price objective on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.09.

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.