EverCommerce Inc. (NASDAQ:EVCM) Sees Large Growth in Short Interest

EverCommerce Inc. (NASDAQ:EVCM) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 995,600 shares, a growth of 12.0% from the September 15th total of 888,900 shares. Approximately 6.8% of the shares of the company are sold short. Based on an average daily volume of 120,900 shares, the days-to-cover ratio is currently 8.2 days.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 7,099 shares of EverCommerce stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the completion of the sale, the chief executive officer now owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 41,799 shares of company stock valued at $438,333 in the last quarter. 11.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EverCommerce

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of EverCommerce during the 3rd quarter valued at about $107,000. Edgestream Partners L.P. purchased a new stake in EverCommerce in the first quarter valued at approximately $123,000. The Manufacturers Life Insurance Company lifted its position in 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 during the last quarter. Renaissance Technologies LLC grew its stake in EverCommerce by 19.4% in the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after buying an additional 2,700 shares in the last quarter. Finally, RIA Advisory Group LLC bought a new position in shares of EverCommerce in the 1st quarter worth $242,000. Institutional investors own 97.91% of the company’s stock.

EverCommerce Stock Performance

Shares of EVCM stock traded down $0.03 during trading hours on Thursday, hitting $10.58. 6,174 shares of the company were exchanged, compared to its average volume of 144,724. The firm has a fifty day simple moving average of $10.32 and a 200 day simple moving average of $10.24. EverCommerce has a 52-week low of $6.22 and a 52-week high of $12.35. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -50.52 and a beta of 1.08. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. The firm had revenue of $177.39 million for the quarter, compared to analysts’ expectations of $171.88 million. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts predict that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EVCM. Deutsche Bank Aktiengesellschaft upped their price objective 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. lifted their price objective on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI upped their target price on EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.45.

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.