EverCommerce Inc. (NASDAQ:EVCM) Short Interest Up 20.3% in March

EverCommerce Inc. (NASDAQ:EVCM) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 526,700 shares, an increase of 20.3% from the February 28th total of 438,000 shares. Based on an average trading volume of 111,600 shares, the days-to-cover ratio is presently 4.7 days. Currently, 3.8% of the company’s shares are sold short.

Insider Activity

In related news, CEO Eric Richard Remer sold 5,117 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $10.39, for a total value of $53,165.63. Following the transaction, the chief executive officer now owns 7,862,366 shares of the company’s stock, valued at $81,689,982.74. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Matthew David Feierstein sold 20,401 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $10.81, for a total value of $220,534.81. Following the completion of the transaction, the president now directly owns 2,217,294 shares of the company’s stock, valued at $23,968,948.14. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 239,363 shares of company stock valued at $2,439,272. 11.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp acquired a new stake in EverCommerce in the fourth quarter worth about $127,000. Woodline Partners LP boosted its holdings in shares of EverCommerce by 24.8% in the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock valued at $5,891,000 after acquiring an additional 106,359 shares in the last quarter. State of Wyoming increased its stake in shares of EverCommerce by 245.4% during the fourth quarter. State of Wyoming now owns 32,875 shares of the company’s stock valued at $362,000 after acquiring an additional 23,356 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of EverCommerce during the fourth quarter valued at approximately $143,000. Finally, Janus Henderson Group PLC raised its holdings in EverCommerce by 34.6% during the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock worth $4,716,000 after purchasing an additional 110,183 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

EverCommerce Stock Up 0.3 %

NASDAQ:EVCM traded up $0.03 during trading hours on Wednesday, hitting $10.27. The stock had a trading volume of 40,384 shares, compared to its average volume of 136,681. The business has a 50 day simple moving average of $10.14 and a two-hundred day simple moving average of $10.69. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.68. The company has a market cap of $1.88 billion, a PE ratio of -36.68 and a beta of 1.12. EverCommerce has a 1-year low of $8.10 and a 1-year high of $12.35.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $175.00 million for the quarter, compared to the consensus estimate of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share. Analysts predict that EverCommerce will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on EVCM shares. Piper Sandler reduced their price target on shares of EverCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Royal Bank of Canada cut their price target on EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Barclays dropped their target price on shares of EverCommerce from $12.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Jefferies Financial Group lowered their price target on shares of EverCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, March 14th. Finally, The Goldman Sachs Group dropped their price target on EverCommerce from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, EverCommerce has an average rating of “Hold” and a consensus price target of $11.09.

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.