EverCommerce Inc. (NASDAQ:EVCM) Short Interest Up 26.7% in October

EverCommerce Inc. (NASDAQ:EVCM) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,060,000 shares, a growth of 26.7% from the October 15th total of 836,700 shares. Approximately 7.1% of the shares of the company are sold short. Based on an average trading volume of 100,000 shares, the short-interest ratio is presently 10.6 days.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 8,867 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $12.01, for a total transaction of $106,492.67. Following the transaction, the chief executive officer now directly owns 7,996,939 shares of the company’s stock, valued at $96,043,237.39. This represents a 0.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 111,377 shares of company stock worth $1,217,786. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of EverCommerce in the third quarter worth $107,000. Edgestream Partners L.P. bought a new position in shares of EverCommerce during the 1st quarter valued at about $123,000. The Manufacturers Life Insurance Company grew its position in shares of EverCommerce by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after purchasing an additional 1,089 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of EverCommerce by 19.4% in the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after purchasing an additional 2,700 shares during the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in shares of EverCommerce in the third quarter worth about $241,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

EverCommerce Trading Up 0.5 %

EVCM opened at $11.12 on Friday. EverCommerce has a fifty-two week low of $6.22 and a fifty-two week high of $12.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.68 and a current ratio of 1.81. The firm’s fifty day moving average is $10.64 and its 200 day moving average is $10.54.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts forecast that EverCommerce will post -0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EVCM. Piper Sandler increased their target price on EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday. Oppenheimer raised their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Finally, Barclays raised their target price on EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.