Short Interest in EverCommerce Inc. (NASDAQ:EVCM) Increases By 10.5%

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 657,700 shares, a growth of 10.5% from the March 31st total of 595,400 shares. Approximately 3.6% of the company's stock are short sold. Based on an average daily trading volume, of 138,900 shares, the short-interest ratio is presently 4.7 days.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 3,794 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $9.61, for a total transaction of $36,460.34. Following the sale, the chief executive officer now directly owns 1,305,407 shares in the company, valued at approximately $12,544,961.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 22,345 shares of company stock valued at $209,568 over the last quarter. Company insiders own 11.50% of the company's stock.

Hedge Funds Weigh In On EverCommerce

A number of large investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in shares of EverCommerce in the 3rd quarter worth approximately $108,000. Quest Partners LLC bought a new stake in EverCommerce in the fourth quarter valued at $135,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of EverCommerce by 7.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company's stock valued at $254,000 after acquiring an additional 1,500 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of EverCommerce during the fourth quarter worth about $391,000. Finally, Great Lakes Advisors LLC increased its holdings in shares of EverCommerce by 143.9% in the 3rd quarter. Great Lakes Advisors LLC now owns 142,627 shares of the company's stock worth $1,431,000 after acquiring an additional 84,147 shares during the period. Institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

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

EverCommerce Stock Performance

NASDAQ:EVCM traded up $0.23 during trading hours on Wednesday, reaching $9.23. 199,864 shares of the stock were exchanged, compared to its average volume of 132,617. The firm has a 50 day simple moving average of $9.23 and a 200-day simple moving average of $9.58. EverCommerce has a 52 week low of $6.22 and a 52 week high of $13.47. The stock has a market capitalization of $1.72 billion, a P/E ratio of -40.13 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 (NASDAQ:EVCM - Get Free Report) last issued its earnings results on Thursday, March 14th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.10). EverCommerce had a negative return on equity of 5.35% and a negative net margin of 6.75%. The business had revenue of $169.44 million for the quarter, compared to analyst estimates of $172.41 million. As a group, sell-side analysts forecast that EverCommerce will post -0.14 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.

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