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

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) was the recipient of a large 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. Based on an average trading volume of 125,700 shares, the days-to-cover ratio is currently 5.2 days. Approximately 4.8% of the company's stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EVCM shares. Oppenheimer reduced their price objective on EverCommerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Jefferies Financial Group reduced their price target on shares of EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a research report 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 report on Friday, March 14th. Piper Sandler reduced their target price on shares of EverCommerce from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, Royal Bank of Canada decreased their target price 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 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 MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $11.09.

EverCommerce Price Performance

Shares of NASDAQ EVCM traded down $0.06 during trading on Friday, hitting $10.19. The company had a trading volume of 21,365 shares, compared to its average volume of 134,112. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -36.43 and a beta of 1.06. The stock has a fifty day simple moving average of $9.95 and a two-hundred day simple moving average of $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 has a fifty-two week low of $8.10 and a fifty-two week high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm had revenue of $175.00 million for the quarter, compared to analyst estimates of $170.48 million. During the same period in the previous year, the company earned ($0.12) EPS. EverCommerce's revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other EverCommerce news, President Matthew David Feierstein sold 2,888 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $10.01, for a total value of $28,908.88. Following the completion of the sale, the president now owns 2,209,807 shares of the company's stock, valued at approximately $22,120,168.07. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Richard Remer sold 8,761 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $10.56, for a total value of $92,516.16. Following the sale, the chief executive officer now owns 7,840,069 shares in the company, valued at $82,791,128.64. The trade was a 0.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,071 shares of company stock worth $2,756,407 in the last 90 days. 11.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of EverCommerce by 305.6% in the 3rd quarter. Barclays PLC now owns 29,677 shares of the company's stock valued at $307,000 after buying an additional 22,360 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 63,139 shares during the last quarter. Raymond James Financial Inc. purchased a new position in EverCommerce in the fourth quarter worth approximately $694,000. Charles Schwab Investment Management Inc. increased its stake in EverCommerce by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,587 shares of the company's stock worth $1,856,000 after acquiring an additional 1,092 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in EverCommerce by 84.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company's stock valued at $1,468,000 after purchasing an additional 61,144 shares during the period. Institutional investors and hedge funds own 97.91% of the company's stock.

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.