EverCommerce Inc. (NASDAQ:EVCM) Short Interest Update

EverCommerce Inc. (NASDAQ:EVCM) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 570,400 shares, a decline of 6.7% from the December 15th total of 611,100 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average daily volume of 97,500 shares, the days-to-cover ratio is currently 5.9 days.

EverCommerce Stock Performance

Shares of NASDAQ:EVCM traded up $0.12 during midday trading on Friday, hitting $10.27. The stock had a trading volume of 87,994 shares, compared to its average volume of 78,621. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average price of $11.37 and a two-hundred day moving average price of $10.95. The company has a market capitalization of $1.88 billion, a PE ratio of -36.68 and a beta of 1.14.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. EverCommerce’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric Richard Remer sold 4,400 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $10.67, for a total value of $46,948.00. Following the completion of the sale, the chief executive officer now directly owns 8,060,240 shares in the company, valued at $86,002,760.80. This represents a 0.05 % 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, President Matthew David Feierstein sold 17,545 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $11.92, for a total value of $209,136.40. Following the completion of the sale, 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. Over the last ninety days, insiders sold 175,055 shares of company stock worth $1,977,541. 11.60% of the stock is owned by corporate insiders.

Institutional Trading of EverCommerce

Several large investors have recently bought and sold shares of EVCM. SG Americas Securities LLC acquired a new stake in EverCommerce during the 3rd quarter valued at $107,000. The Manufacturers Life Insurance Company lifted its holdings in EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after purchasing an additional 1,089 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of EverCommerce by 19.4% during the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after purchasing an additional 2,700 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in shares of EverCommerce during the third quarter worth about $241,000. Finally, Barclays PLC raised its position in shares of EverCommerce by 305.6% in the third quarter. Barclays PLC now owns 29,677 shares of the company’s stock valued at $307,000 after buying an additional 22,360 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.