Short Interest in EverCommerce Inc. (NASDAQ:EVCM) Declines By 6.7%

EverCommerce Inc. (NASDAQ:EVCM) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 570,400 shares, a decline of 6.7% from the December 15th total of 611,100 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 97,500 shares, the days-to-cover ratio is currently 5.9 days.

EverCommerce Stock Performance

NASDAQ:EVCM traded up $0.12 on Friday, hitting $10.27. 87,994 shares of the company’s stock traded hands, compared to its average volume of 78,621. The firm has a 50-day moving average price of $11.37 and a 200-day moving average price of $10.95. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. EverCommerce has a 1 year low of $6.22 and a 1 year high of $12.35.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $176.26 million for the quarter, compared to analysts’ expectations of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The firm’s revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that EverCommerce will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Matthew David Feierstein sold 17,545 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $11.92, for a total transaction of $209,136.40. Following the completion of the transaction, the president now owns 2,246,624 shares of the company’s stock, valued at $26,779,758.08. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Richard Remer sold 6,024 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $10.20, for a total transaction of $61,444.80. Following the completion of the sale, the chief executive officer now owns 7,867,483 shares in the company, valued at approximately $80,248,326.60. This trade represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,055 shares of company stock worth $1,977,541. 11.60% of the stock is owned by corporate insiders.

Institutional Trading of EverCommerce

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its position in EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after purchasing an additional 281,551 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after buying an additional 95,934 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after buying an additional 63,139 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in EverCommerce in the third quarter valued at approximately $570,000. Finally, Edgestream Partners L.P. acquired a new stake in EverCommerce in the third quarter valued at approximately $536,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EVCM shares. Barclays lifted their price target on shares of EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Royal Bank of Canada upped their target price on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler lifted their price target on EverCommerce from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. JMP Securities upped their price objective on shares of EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Finally, Oppenheimer lifted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.56.

EverCommerce Company Profile

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.