Charles Schwab Investment Management Inc. Reduces Stock Position in EverCommerce Inc. (NASDAQ:EVCM)

Charles Schwab Investment Management Inc. trimmed its stake in EverCommerce Inc. (NASDAQ:EVCM) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,495 shares of the company’s stock after selling 8,464 shares during the period. Charles Schwab Investment Management Inc.’s holdings in EverCommerce were worth $1,735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EVCM. SG Americas Securities LLC bought a new position in shares of EverCommerce during the third quarter valued at approximately $107,000. The Manufacturers Life Insurance Company boosted its holdings in EverCommerce by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after acquiring an additional 1,089 shares during the period. Renaissance Technologies LLC grew its position in EverCommerce by 19.4% in the 2nd 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 last quarter. RIA Advisory Group LLC purchased a new stake in EverCommerce in the third quarter worth $241,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of EverCommerce during the third quarter worth $570,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

EverCommerce Trading Down 1.6 %

EverCommerce stock opened at $12.01 on Tuesday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -42.89 and a beta of 1.12. EverCommerce Inc. has a 52 week low of $6.22 and a 52 week high of $12.35. The stock has a 50-day moving average price of $11.27 and a 200 day moving average price of $10.81. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last posted its 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). The business had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business’s revenue was up .9% compared to the same quarter last year. Sell-side analysts anticipate that EverCommerce Inc. will post -0.17 EPS for the current year.

Insider Transactions at EverCommerce

In other news, President Matthew David Feierstein sold 7,455 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the president now directly owns 2,239,169 shares in the company, valued at $27,004,378.14. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Richard Remer sold 7,099 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the completion of the sale, the chief executive officer now directly owns 8,124,163 shares of the company’s stock, valued at $86,847,302.47. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,421 shares of company stock worth $1,792,578 over the last quarter. 11.60% of the stock is currently owned by insiders.

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.