EverCommerce Inc. (NASDAQ:EVCM) Short Interest Up 25.0% in March

EverCommerce Inc. (NASDAQ:EVCM) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 658,500 shares, a growth of 25.0% from the March 15th total of 526,700 shares. Approximately 4.8% of the shares of the stock are short sold. Based on an average trading volume of 125,700 shares, the short-interest ratio is presently 5.2 days.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EVCM. The Goldman Sachs Group lowered their target price on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research note on Friday, March 14th. Barclays dropped their target price on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Oppenheimer decreased 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. Piper Sandler dropped their price objective on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, Royal Bank of Canada decreased their price objective on EverCommerce from $14.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, EverCommerce currently has a consensus rating of “Hold” and an average price target of $11.09.

EverCommerce Trading Down 1.2 %

Shares of EverCommerce stock traded down $0.12 during trading on Friday, hitting $9.96. 131,976 shares of the company were exchanged, compared to its average volume of 135,872. The firm has a market capitalization of $1.83 billion, a P/E ratio of -35.57 and a beta of 1.06. The firm’s fifty day moving average price is $10.02 and its 200 day moving average price is $10.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.81 and a quick ratio of 1.81. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.35.

EverCommerce (NASDAQ:EVCM) last issued its earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) EPS. As a group, sell-side analysts expect that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 8,552 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $10.21, for a total transaction of $87,315.92. Following the sale, the chief executive officer now directly owns 7,848,830 shares of the company’s stock, valued at approximately $80,136,554.30. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Matthew David Feierstein sold 5,513 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $10.07, for a total transaction of $55,515.91. Following the sale, the president now directly owns 2,187,695 shares of the company’s stock, valued at approximately $22,030,088.65. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,521 shares of company stock worth $2,765,729 over the last three months. Company insiders own 11.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVCM. BNP Paribas Financial Markets acquired a new stake in shares of EverCommerce during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC lifted its stake in EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company’s stock valued at $38,000 after buying an additional 2,040 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of EverCommerce by 919.0% in the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company’s stock valued at $45,000 after buying an additional 3,667 shares during the period. Wells Fargo & Company MN increased its position in shares of EverCommerce by 41.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company’s stock worth $116,000 after acquiring an additional 3,106 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of EverCommerce during the fourth quarter worth $119,000. 97.91% of the stock is currently owned by institutional investors.

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.