Short Interest in EverCommerce Inc. (NASDAQ:EVCM) Declines By 6.7%

EverCommerce Inc. (NASDAQ:EVCM) saw a large decline in short interest in the month of 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. Approximately 4.0% of the company’s shares are short sold. Based on an average daily trading volume, of 97,500 shares, the short-interest ratio is presently 5.9 days.

EverCommerce Stock Up 1.2 %

Shares of EVCM stock traded up $0.12 during trading hours on Friday, hitting $10.27. 87,994 shares of the company were exchanged, compared to its average volume of 78,621. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -36.68 and a beta of 1.14. EverCommerce has a one year low of $6.22 and a one year high of $12.35. The business’s 50-day simple moving average is $11.37 and its two-hundred day simple moving average is $10.95.

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

Insider Activity

In related news, CEO Eric Richard Remer sold 4,200 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $10.37, for a total value of $43,554.00. Following the transaction, the chief executive officer now owns 8,068,540 shares in the company, valued at approximately $83,670,759.80. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Matthew David Feierstein sold 7,455 shares of the business’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 transaction of $89,907.30. Following the sale, the president now owns 2,239,169 shares of the company’s stock, valued at approximately $27,004,378.14. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,055 shares of company stock valued at $1,977,541 in the last ninety days. Company insiders own 11.60% of the company’s stock.

Hedge Funds Weigh In On EverCommerce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position 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 during the last quarter. Renaissance Technologies LLC raised its stake in EverCommerce by 19.4% during 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 in the last quarter. Janus Henderson Group PLC boosted its position in EverCommerce by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after acquiring an additional 3,837 shares during the period. SG Americas Securities LLC acquired a new stake in EverCommerce in the third quarter worth about $107,000. Finally, State Street Corp grew its position in EverCommerce by 2.4% in the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock valued at $5,335,000 after buying an additional 12,156 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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