Los Angeles Capital Management LLC Purchases 47,470 Shares of EverCommerce Inc. $EVCM

Los Angeles Capital Management LLC grew its stake in EverCommerce Inc. (NASDAQ:EVCM) by 136.9% during the second quarter, HoldingsChannel.com reports. The firm owned 82,142 shares of the company’s stock after buying an additional 47,470 shares during the period. Los Angeles Capital Management LLC’s holdings in EverCommerce were worth $862,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new position in EverCommerce during the second quarter worth about $5,039,000. Nuveen LLC acquired a new stake in shares of EverCommerce in the first quarter valued at approximately $493,000. Woodline Partners LP lifted its position in EverCommerce by 4.7% during the 1st quarter. Woodline Partners LP now owns 560,506 shares of the company’s stock worth $5,650,000 after buying an additional 25,412 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of EverCommerce during the 1st quarter worth about $202,000. Finally, Mackenzie Financial Corp increased its position in shares of EverCommerce by 129.1% in the first quarter. Mackenzie Financial Corp now owns 26,372 shares of the company’s stock valued at $266,000 after acquiring an additional 14,861 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Stock Up 2.6%

EverCommerce stock opened at $8.72 on Friday. The company’s 50-day moving average price is $11.18 and its two-hundred day moving average price is $10.77. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.56 billion, a P/E ratio of -871.13, a P/E/G ratio of 4.50 and a beta of 1.05. EverCommerce Inc. has a twelve month low of $7.66 and a twelve month high of $12.34.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 5,666 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $11.37, for a total value of $64,422.42. Following the completion of the sale, the chief executive officer owned 2,973,524 shares of the company’s stock, valued at approximately $33,808,967.88. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Matthew David Feierstein sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $11.38, for a total transaction of $284,500.00. Following the transaction, the president directly owned 2,148,295 shares in the company, valued at approximately $24,447,597.10. This represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 229,200 shares of company stock valued at $2,601,485. 10.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on EVCM shares. Barclays reduced their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday. Lake Street Capital set a $11.00 target price on shares of EverCommerce in a report on Tuesday, October 14th. Piper Sandler increased their price target on shares of EverCommerce from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Zacks Research lowered shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $13.00 target price (up from $12.00) on shares of EverCommerce in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, EverCommerce presently has a consensus rating of “Hold” and an average target price of $11.00.

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.