EverCommerce Inc. (NASDAQ:EVCM) Short Interest Update

EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) was the target of a significant 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. Based on an average trading volume of 100,000 shares, the days-to-cover ratio is currently 10.6 days. Approximately 7.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

EVCM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price 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. Barclays lifted their price objective on shares of EverCommerce from $9.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday. Oppenheimer boosted their price target on EverCommerce from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Evercore ISI boosted their target price on EverCommerce from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.56.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 7,099 shares of the firm's stock in a transaction dated Thursday, September 19th. The stock was 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 directly owns 8,124,163 shares of the company's stock, valued at $86,847,302.47. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 111,377 shares of company stock worth $1,217,786 over the last quarter. 11.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company's stock worth $125,000 after buying an additional 1,089 shares in the last quarter. Renaissance Technologies LLC boosted its position in EverCommerce by 19.4% in the 2nd quarter. Renaissance Technologies LLC now owns 16,600 shares of the company's stock valued at $182,000 after buying an additional 2,700 shares during the period. Janus Henderson Group PLC increased its holdings in shares of EverCommerce by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 318,136 shares of the company's stock valued at $3,296,000 after acquiring an additional 3,837 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of EverCommerce by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company's stock valued at $1,805,000 after purchasing an additional 9,595 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in EverCommerce during the 3rd quarter valued at about $107,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

EverCommerce Stock Performance

Shares of EverCommerce stock traded up $0.05 during trading hours on Friday, reaching $11.12. The company's stock had a trading volume of 157,414 shares, compared to its average volume of 141,276. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $10.62 and its two-hundred day simple moving average is $10.52. EverCommerce has a one year low of $6.22 and a one year high of $12.35.

EverCommerce (NASDAQ:EVCM - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). The company had revenue of $176.26 million for the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The company's quarterly revenue was up .9% on a year-over-year basis. On average, research analysts forecast that EverCommerce will post -0.09 EPS 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.

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