EverCommerce Inc. (NASDAQ:EVCM) Sees Large Growth in Short Interest

EverCommerce Inc. (NASDAQ:EVCM) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 658,500 shares, an increase of 25.0% from the March 15th total of 526,700 shares. Approximately 4.8% of the company’s stock are sold short. Based on an average daily volume of 125,700 shares, the days-to-cover ratio is currently 5.2 days.

Insider Transactions at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,134 shares of the firm’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $10.02, for a total value of $71,482.68. Following the completion of the transaction, the chief executive officer now directly owns 7,536,163 shares in the company, valued at $75,512,353.26. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Matthew David Feierstein sold 2,888 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $10.01, for a total value of $28,908.88. Following the sale, the president now owns 2,209,807 shares in the company, valued at approximately $22,120,168.07. This represents a 0.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,521 shares of company stock valued at $2,765,729 over the last 90 days. 11.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVCM. Charles Schwab Investment Management Inc. grew its holdings in shares of EverCommerce by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company’s stock worth $1,856,000 after purchasing an additional 1,092 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in EverCommerce by 145.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock worth $38,000 after purchasing an additional 2,040 shares during the period. BNP Paribas Financial Markets acquired a new stake in EverCommerce during the fourth quarter worth about $29,000. Wells Fargo & Company MN increased its holdings in EverCommerce by 41.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock valued at $116,000 after buying an additional 3,106 shares during the period. Finally, Barclays PLC increased its holdings in EverCommerce by 11.2% in the 4th quarter. Barclays PLC now owns 32,989 shares of the company’s stock valued at $363,000 after buying an additional 3,312 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

EverCommerce Stock Performance

Shares of EverCommerce stock traded down $0.12 during trading on Friday, reaching $9.96. The company’s stock had a trading volume of 131,976 shares, compared to its average volume of 135,872. EverCommerce has a 52 week low of $8.10 and a 52 week high of $12.35. The firm has a market cap of $1.83 billion, a PE ratio of -35.57 and a beta of 1.06. The business’s 50-day moving average price is $10.02 and its 200-day moving average price is $10.63. 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 announced its earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts forecast that EverCommerce will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EVCM has been the topic of several analyst reports. Oppenheimer dropped their price target on shares of EverCommerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group cut their target price on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 14th. Royal Bank of Canada reduced their price target on EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Barclays cut their price objective on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Finally, Jefferies Financial Group dropped their price target on EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, EverCommerce has a consensus rating of “Hold” and a consensus target price of $11.09.

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.