EverCommerce Inc. (NASDAQ:EVCM) Short Interest Update

EverCommerce Inc. (NASDAQ:EVCM) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 826,500 shares, an increase of 25.4% from the May 31st total of 659,200 shares. Based on an average daily volume of 200,200 shares, the short-interest ratio is presently 4.1 days. Approximately 5.3% of the shares of the company are sold short.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 14,502 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $10.16, for a total transaction of $147,340.32. Following the completion of the sale, the chief executive officer now directly owns 1,277,559 shares of the company’s stock, valued at approximately $12,979,999.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Eric Richard Remer sold 14,502 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total value of $147,340.32. Following the completion of the sale, the chief executive officer now owns 1,277,559 shares in the company, valued at approximately $12,979,999.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew David Feierstein sold 4,582 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $10.16, for a total transaction of $46,553.12. Following the transaction, the president now owns 2,305,612 shares in the company, valued at $23,425,017.92. The disclosure for this sale can be found here. Insiders sold a total of 65,822 shares of company stock worth $644,732 in the last 90 days. Company insiders own 11.50% of the company’s stock.

Institutional Trading of EverCommerce

Institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of EverCommerce during the 4th quarter valued at about $135,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of EverCommerce during the fourth quarter worth approximately $391,000. Raymond James Financial Services Advisors Inc. increased its holdings in EverCommerce by 7.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock valued at $254,000 after buying an additional 1,500 shares during the last quarter. Great Lakes Advisors LLC raised its stake in EverCommerce by 42.9% during the fourth quarter. Great Lakes Advisors LLC now owns 203,863 shares of the company’s stock valued at $2,249,000 after buying an additional 61,236 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in EverCommerce by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock worth $15,684,000 after buying an additional 30,481 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Trading Up 1.1 %

EVCM stock traded up $0.12 during trading on Tuesday, reaching $11.06. 17,603 shares of the stock traded hands, compared to its average volume of 161,241. The business’s 50 day moving average price is $9.92 and its 200-day moving average price is $9.81. The firm has a market capitalization of $2.05 billion, a PE ratio of -52.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.71 and a quick ratio of 1.71. EverCommerce has a 52-week low of $6.22 and a 52-week high of $12.32.

EverCommerce (NASDAQ:EVCM) last issued its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). EverCommerce had a negative return on equity of 4.92% and a negative net margin of 6.02%. The firm had revenue of $170.10 million for the quarter, compared to analysts’ expectations of $162.11 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that EverCommerce will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Royal Bank of Canada lowered their target price on EverCommerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.00 price target (down previously from $11.00) on shares of EverCommerce in a research note on Friday, March 15th. Oppenheimer lifted their target price on shares of EverCommerce from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $10.00 target price on shares of EverCommerce in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.40.

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.