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

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 595,400 shares, a growth of 28.8% from the March 15th total of 462,400 shares. Currently, 2.9% of the company's shares are sold short. Based on an average daily trading volume, of 124,600 shares, the days-to-cover ratio is presently 4.8 days.

EverCommerce Stock Down 1.8 %

Shares of NASDAQ:EVCM traded down $0.16 during midday trading on Monday, reaching $8.59. The company's stock had a trading volume of 154,016 shares, compared to its average volume of 125,854. The firm has a 50 day moving average of $9.45 and a 200-day moving average of $9.67. The firm has a market capitalization of $1.60 billion, a P/E ratio of -38.04 and a beta of 1.06. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.64. EverCommerce has a 12-month low of $6.22 and a 12-month high of $13.47.

EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.10). The firm had revenue of $169.44 million during the quarter, compared to the consensus estimate of $172.41 million. EverCommerce had a negative return on equity of 5.35% and a negative net margin of 6.75%. On average, research analysts anticipate that EverCommerce will post -0.14 earnings per share for the current year.

Insider Activity at EverCommerce

In related news, CEO Eric Richard Remer sold 4,016 shares of the company's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $9.00, for a total transaction of $36,144.00. Following the completion of the sale, the chief executive officer now directly owns 1,292,061 shares in the company, valued at approximately $11,628,549. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 22,345 shares of company stock worth $209,568 in the last three months. 11.50% of the stock is owned by insiders.

Hedge Funds Weigh In On EverCommerce

Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its stake in EverCommerce by 82.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company's stock worth $31,000 after purchasing an additional 1,053 shares in the last quarter. UBS Group AG boosted its stake in EverCommerce by 871.7% in the 3rd quarter. UBS Group AG now owns 2,711 shares of the company's stock worth $29,000 after purchasing an additional 2,432 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in EverCommerce in the 3rd quarter worth about $38,000. Lazard Asset Management LLC bought a new position in EverCommerce in the 3rd quarter worth about $34,000. Finally, Tower Research Capital LLC TRC boosted its stake in EverCommerce by 379.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the company's stock worth $40,000 after purchasing an additional 2,868 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EVCM. Royal Bank of Canada reduced their price objective on shares of EverCommerce from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, March 15th. JMP Securities reissued a "market outperform" rating and set a $12.00 price objective on shares of EverCommerce in a research report on Friday, March 15th. Barclays reduced their price objective on shares of EverCommerce from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Friday, March 15th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $10.00 price objective (down from $11.00) on shares of EverCommerce in a research report on Friday, March 15th. Finally, Piper Sandler reissued a "neutral" rating and set a $10.00 price objective on shares of EverCommerce in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.13.

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.