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

Los Angeles Capital Management LLC increased its stake in shares of EverCommerce Inc. (NASDAQ:EVCM) by 136.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 82,142 shares of the company’s stock after acquiring an additional 47,470 shares during the period. Los Angeles Capital Management LLC’s holdings in EverCommerce were worth $862,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in EverCommerce by 141.9% during the first quarter. Deutsche Bank AG now owns 9,836 shares of the company’s stock valued at $99,000 after purchasing an additional 5,770 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of EverCommerce in the first quarter worth $102,000. Martingale Asset Management L P bought a new stake in shares of EverCommerce during the 1st quarter worth $202,000. Mackenzie Financial Corp boosted its holdings in shares of EverCommerce by 129.1% during the 1st quarter. Mackenzie Financial Corp now owns 26,372 shares of the company’s stock worth $266,000 after buying an additional 14,861 shares during the period. Finally, Nuveen LLC acquired a new position in EverCommerce in the 1st quarter valued at $493,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Stock Up 2.6%

NASDAQ EVCM opened at $8.72 on Friday. EverCommerce Inc. has a twelve month low of $7.66 and a twelve month high of $12.34. The stock has a market cap of $1.56 billion, a PE ratio of -871.13, a PEG ratio of 4.50 and a beta of 1.05. The firm has a 50-day simple moving average of $11.18 and a 200 day simple moving average of $10.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.02 and a current ratio of 2.02.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EVCM. Royal Bank Of Canada cut their target price on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EverCommerce in a research report on Wednesday, October 8th. Piper Sandler boosted their price objective on EverCommerce from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, August 8th. Barclays decreased their target price on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Zacks Research lowered EverCommerce from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Three 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.00.

About EverCommerce

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.