EverCommerce Inc. (NASDAQ:EVCM) Short Interest Up 25.0% in March

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 658,500 shares, an increase of 25.0% from the March 15th total of 526,700 shares. Based on an average daily trading volume, of 125,700 shares, the days-to-cover ratio is presently 5.2 days. Currently, 4.8% of the shares of the stock are short sold.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 7,026 shares of EverCommerce stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.94, for a total value of $76,864.44. Following the sale, the chief executive officer now owns 7,758,632 shares of the company's stock, valued at approximately $84,879,434.08. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Matthew David Feierstein sold 2,888 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $10.01, for a total transaction of $28,908.88. Following the sale, the president now directly owns 2,209,807 shares in the company, valued at $22,120,168.07. The trade was a 0.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 260,852 shares of company stock valued at $2,625,248 in the last ninety days. 11.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EverCommerce

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in EverCommerce in the fourth quarter valued at $29,000. Tower Research Capital LLC TRC boosted its holdings in 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 purchasing an additional 2,040 shares during the last quarter. Deutsche Bank AG boosted its holdings in EverCommerce by 919.0% in the fourth quarter. Deutsche Bank AG now owns 4,066 shares of the company's stock valued at $45,000 after purchasing an additional 3,667 shares during the last quarter. GAMMA Investing LLC raised its position in shares of EverCommerce by 838.8% in the first quarter. GAMMA Investing LLC now owns 7,116 shares of the company's stock worth $706,000 after acquiring an additional 6,358 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of EverCommerce by 41.7% in the fourth quarter. Wells Fargo & Company MN now owns 10,553 shares of the company's stock worth $116,000 after acquiring an additional 3,106 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EVCM has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on EverCommerce from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 14th. Piper Sandler reduced their price target on 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 reduced their price objective on shares of EverCommerce from $14.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. Oppenheimer reduced their price objective on shares of EverCommerce from $13.00 to $12.00 and set an "outperform" rating on the stock in a research report on Friday, March 14th. Finally, Barclays reduced their price target on shares of EverCommerce from $12.00 to $9.00 and set an "equal weight" rating on the stock 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 company. Based on data from MarketBeat, EverCommerce currently has a consensus rating of "Hold" and a consensus target price of $11.09.

EverCommerce Trading Up 1.4 %

Shares of NASDAQ EVCM traded up $0.14 during mid-day trading on Thursday, reaching $10.21. The company had a trading volume of 15,760 shares, compared to its average volume of 134,220. EverCommerce has a 52 week low of $8.10 and a 52 week high of $12.35. The business's 50-day moving average is $9.96 and its 200-day moving average is $10.63. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -36.46 and a beta of 1.06. 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 (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $175.00 million for the quarter, compared to analysts' expectations of $170.48 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share. Equities analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

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.