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

EverCommerce Inc. (NASDAQ:EVCM) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 570,400 shares, a decrease 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 short-interest ratio is presently 5.9 days.

EverCommerce Stock Performance

EverCommerce stock traded up $0.12 during mid-day trading on Monday, reaching $10.27. 87,994 shares of the company’s stock were exchanged, compared to its average volume of 78,621. The firm has a market capitalization of $1.88 billion, a PE ratio of -36.68 and a beta of 1.14. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $11.37 and its 200 day simple moving average is $10.95. EverCommerce has a one year low of $6.22 and a one year high of $12.35.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $176.26 million during the quarter, compared to analysts’ expectations of $174.87 million. EverCommerce’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 4,400 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $10.67, for a total transaction of $46,948.00. Following the sale, the chief executive officer now directly owns 8,060,240 shares in the company, valued at approximately $86,002,760.80. The trade was a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Matthew David Feierstein sold 20,401 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total transaction of $220,534.81. Following the transaction, the president now directly owns 2,217,294 shares of the company’s stock, valued at $23,968,948.14. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,055 shares of company stock valued at $1,977,541 in the last quarter. Insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its holdings in shares of EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after purchasing an additional 281,551 shares during the period. Dimensional Fund Advisors LP increased its position in EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after buying an additional 95,934 shares during the last quarter. JPMorgan Chase & Co. raised 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 valued at $1,059,000 after buying an additional 63,139 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of EverCommerce during the 3rd quarter valued at $570,000. Finally, Edgestream Partners L.P. bought a new position in shares of EverCommerce during the 3rd quarter worth $536,000. 97.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.