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

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) was the target of a significant 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. Currently, 3.8% of the shares of the company are short sold. Based on an average daily trading volume, of 111,600 shares, the short-interest ratio is currently 4.7 days.

EverCommerce Price Performance

EVCM traded down $0.08 during trading hours on Monday, hitting $9.50. The company's stock had a trading volume of 163,573 shares, compared to its average volume of 137,118. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -33.92 and a beta of 1.06. The business's 50-day moving average price is $10.11 and its 200-day moving average price is $10.68. 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 12 month low of $8.10 and a 12 month high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $170.48 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The business's quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on EVCM. Piper Sandler lowered their target price on shares of EverCommerce from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Barclays lowered their price objective on EverCommerce from $12.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group dropped their price objective on EverCommerce from $9.00 to $8.00 and set a "sell" rating for the company in a research note on Friday, March 14th. Oppenheimer lowered their price target on EverCommerce from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Finally, Jefferies Financial Group cut their price objective on shares of EverCommerce from $12.00 to $10.00 and set a "hold" rating for the company in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $11.09.

Insider Buying and Selling at EverCommerce

In related news, President Matthew David Feierstein sold 21,624 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $10.13, for a total transaction of $219,051.12. Following the completion of the transaction, the president now directly owns 2,370,628 shares in the company, valued at approximately $24,014,461.64. The trade was a 0.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric Richard Remer sold 5,453 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $10.56, for a total transaction of $57,583.68. Following the sale, the chief executive officer now owns 7,892,772 shares in the company, valued at approximately $83,347,672.32. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 268,062 shares of company stock valued at $2,710,669. Insiders own 11.60% of the company's stock.

Institutional Investors Weigh In On EverCommerce

Several institutional investors have recently modified their holdings of EVCM. BNP Paribas Financial Markets purchased a new stake in EverCommerce during the 4th quarter valued at $29,000. Tower Research Capital LLC TRC raised its stake in shares of EverCommerce by 145.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,439 shares of the company's stock valued at $38,000 after acquiring an additional 2,040 shares during the period. Deutsche Bank AG lifted its holdings in shares of EverCommerce by 919.0% in the 4th quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock worth $45,000 after acquiring an additional 3,667 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of EverCommerce by 41.7% during the 4th quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after purchasing an additional 3,106 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new position in EverCommerce during the 4th quarter valued at about $119,000. 97.91% of the stock is owned by institutional investors.

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.