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

by · The Markets Daily

EverCommerce Inc. (NASDAQ:EVCM – Get Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 526,700 shares, a growth of 20.3% from the February 28th total of 438,000 shares. Based on an average daily volume of 111,600 shares, the days-to-cover ratio is currently 4.7 days. Approximately 3.8% of the shares of the company are sold short.

Analyst Ratings Changes

EVCM has been the subject of a number of recent research reports. Barclays lowered their target price on EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. The Goldman Sachs Group dropped their price objective on shares of EverCommerce from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 14th. Jefferies Financial Group decreased their target price on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, March 14th. 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 note on Friday, March 14th. Finally, Royal Bank of Canada decreased their price objective on shares of EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Two 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.09.

Get Our Latest Research Report on EverCommerce

EverCommerce Trading Down 6.1 %

NASDAQ:EVCM opened at $9.77 on Friday. EverCommerce has a 12-month low of $8.10 and a 12-month high of $12.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. The business has a 50 day simple moving average of $10.13 and a 200 day simple moving average of $10.69. The firm has a market capitalization of $1.79 billion, a P/E ratio of -34.89 and a beta of 1.12.

EverCommerce (NASDAQ:EVCM – Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned ($0.12) EPS. Equities research analysts predict that EverCommerce will post -0.17 EPS for the current year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 2,888 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total value of $28,908.88. Following the transaction, the president now directly owns 2,209,807 shares of the company’s stock, valued at approximately $22,120,168.07. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Richard Remer sold 10,117 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $9.05, for a total transaction of $91,558.85. Following the sale, the chief executive officer now owns 7,686,872 shares in the company, valued at $69,566,191.60. The trade was a 0.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,062 shares of company stock worth $2,710,669. 11.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

Several hedge funds have recently modified their holdings of EVCM. Edgestream Partners L.P. bought a new stake in shares of EverCommerce in the 3rd quarter worth approximately $536,000. Janus Henderson Group PLC increased its holdings in EverCommerce by 1.2% in the third quarter. Janus Henderson Group PLC now owns 318,136 shares of the company’s stock worth $3,296,000 after buying an additional 3,837 shares during the last quarter. State Street Corp lifted its position in EverCommerce by 2.4% during the 3rd quarter. State Street Corp now owns 514,965 shares of the company’s stock worth $5,335,000 after acquiring an additional 12,156 shares during the last quarter. Barclays PLC grew 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 purchasing an additional 22,360 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after purchasing an additional 63,139 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Company Profile

(Get Free Report)

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.

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