EverCommerce Inc. (NASDAQ:EVCM) Short Interest Update

Key Points

• Short interest in EverCommerce Inc. (NASDAQ:EVCM) rose by 28.4% in August, bringing the total to 1,310,000 shares short sold, which is 8.8% of the company's shares.
• EverCommerce's stock price increased by 0.5% to $11.78, with the company reporting $0.03 EPS for the last quarter, exceeding estimates.
• Several analysts upgraded their ratings on EverCommerce, with Oppenheimer setting a price target of $13.00, reflecting a positive outlook for the stock.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 1,310,000 shares, a growth of 28.4% from the August 15th total of 1,020,000 shares. Based on an average daily volume of 239,900 shares, the short-interest ratio is currently 5.5 days. Approximately 8.8% of the company's stock are sold short. Approximately 8.8% of the company's stock are sold short. Based on an average daily volume of 239,900 shares, the short-interest ratio is currently 5.5 days.

Analyst Ratings Changes

Several equities research analysts have issued reports on EVCM shares. Piper Sandler boosted their price objective on shares of EverCommerce from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Oppenheimer reissued an "outperform" rating and issued a $13.00 price objective (up from $12.00) on shares of EverCommerce in a research report on Thursday, August 7th. Finally, Zacks Research raised shares of EverCommerce from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.50.

Insider Activity at EverCommerce

In other EverCommerce news, President Matthew David Feierstein sold 25,000 shares of EverCommerce stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the sale, the president owned 2,211,383 shares of the company's stock, valued at approximately $24,855,944.92. The trade was a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ryan H. Siurek sold 10,000 shares of EverCommerce stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $10.62, for a total transaction of $106,200.00. Following the transaction, the chief financial officer owned 245,549 shares in the company, valued at approximately $2,607,730.38. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 300,200 shares of company stock valued at $3,237,408 over the last 90 days. Corporate insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On EverCommerce

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in shares of EverCommerce during the fourth quarter worth $29,000. Deutsche Bank AG grew its holdings in EverCommerce by 919.0% during the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after purchasing an additional 3,667 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of EverCommerce in the first quarter worth $102,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of EverCommerce in the 4th quarter valued at $119,000. Finally, Mackenzie Financial Corp acquired a new position in EverCommerce in the fourth quarter worth $127,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

EverCommerce Stock Performance

Shares of EVCM traded down $0.31 during trading on Friday, reaching $11.84. 375,306 shares of the company traded hands, compared to its average volume of 221,452. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a 50-day simple moving average of $11.19 and a 200-day simple moving average of $10.47. EverCommerce has a twelve month low of $8.10 and a twelve month high of $12.34.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. EverCommerce had a negative net margin of 3.27% and a negative return on equity of 1.96%. The firm had revenue of $148.02 million during the quarter, compared to analysts' expectations of $145.80 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

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.