Short Interest in EverCommerce Inc. (NASDAQ:EVCM) Increases By 14.0%

Key Points

• Short interest rose 14.0% to 1,635,831 shares as of April 15, implying a 14.0-day short-interest ratio and about 1.0% of the float is shorted.
• Insider selling continued: CEO Eric Richard Remer sold 19,200 shares on March 3, insiders have sold 320,945 shares in the past 90 days, and insiders currently own 10.40% of the stock.
• Fundamentals and sentiment are mixed — EverCommerce missed Q (EPS $0.03 vs. $0.04 est.) while revenue slightly beat ($151.15M), the company has a $2.04B market cap and 128.35 P/E, and analysts hold a consensus "Hold" with a $10.71 target.

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) saw a significant growth in short interest in April. As of April 15th, there was short interest totaling 1,635,831 shares, a growth of 14.0% from the March 31st total of 1,434,883 shares. Based on an average trading volume of 116,948 shares, the short-interest ratio is presently 14.0 days. Approximately 1.0% of the shares of the stock are short sold.

Insider Transactions at EverCommerce

In related news, CEO Eric Richard Remer sold 19,200 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $11.43, for a total value of $219,456.00. Following the completion of the transaction, the chief executive officer directly owned 2,592,997 shares in the company, valued at approximately $29,637,955.71. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 320,945 shares of company stock valued at $3,597,560 in the last ninety days. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EverCommerce

Several hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd raised its stake in shares of EverCommerce by 110.4% during the fourth quarter. XTX Topco Ltd now owns 51,877 shares of the company's stock valued at $628,000 after acquiring an additional 27,224 shares during the last quarter. Barclays PLC raised its stake in shares of EverCommerce by 5.1% during the fourth quarter. Barclays PLC now owns 22,854 shares of the company's stock valued at $277,000 after acquiring an additional 1,101 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of EverCommerce by 76.8% during the fourth quarter. Wells Fargo & Company MN now owns 16,311 shares of the company's stock valued at $198,000 after acquiring an additional 7,085 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of EverCommerce during the fourth quarter valued at about $177,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of EverCommerce by 111.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company's stock valued at $749,000 after acquiring an additional 34,979 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

EverCommerce Stock Performance

EverCommerce stock opened at $11.55 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $2.04 billion, a PE ratio of 128.35, a P/E/G ratio of 2.56 and a beta of 1.01. The firm has a fifty day simple moving average of $11.43 and a two-hundred day simple moving average of $11.10. EverCommerce has a twelve month low of $7.66 and a twelve month high of $14.41.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $151.15 million during the quarter, compared to the consensus estimate of $150.06 million. EverCommerce had a return on equity of 2.49% and a net margin of 2.99%.The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. Research analysts expect that EverCommerce will post 0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EVCM. The Goldman Sachs Group cut their target price on shares of EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research report on Friday, March 13th. Royal Bank Of Canada lowered their price target on shares of EverCommerce from $12.00 to $11.00 and set a "sector perform" rating for the company in a research note on Friday, March 13th. Raymond James Financial downgraded shares of EverCommerce from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, January 6th. Wall Street Zen raised shares of EverCommerce from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. Finally, Oppenheimer reissued an "outperform" rating on shares of EverCommerce in a research note on Friday, March 13th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, EverCommerce currently has a consensus rating of "Hold" and a consensus target price of $10.71.

EverCommerce Company Profile

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.

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