Short Interest in EverCommerce Inc. (NASDAQ:EVCM) Drops By 6.7%

EverCommerce Inc. (NASDAQ:EVCM) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 570,400 shares, a drop of 6.7% from the December 15th total of 611,100 shares. Based on an average trading volume of 97,500 shares, the days-to-cover ratio is currently 5.9 days. Currently, 4.0% of the company’s stock are sold short.

EverCommerce Price Performance

NASDAQ EVCM traded up $0.12 during trading hours on Friday, reaching $10.27. The company’s stock had a trading volume of 87,994 shares, compared to its average volume of 78,621. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.81 and a current ratio of 1.81. The business has a 50-day simple moving average of $11.37 and a 200 day simple moving average of $10.95. EverCommerce has a 52 week low of $6.22 and a 52 week high of $12.35.

EverCommerce (NASDAQ:EVCM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $176.26 million during the quarter, compared to the consensus estimate of $174.87 million. EverCommerce’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts expect that EverCommerce will post -0.17 earnings per share for the current year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 4,200 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $10.37, for a total value of $43,554.00. Following the completion of the transaction, the chief executive officer now directly owns 8,068,540 shares of the company’s stock, valued at $83,670,759.80. This represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Matthew David Feierstein sold 17,545 shares of EverCommerce stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $11.92, for a total value of $209,136.40. Following the sale, the president now directly owns 2,246,624 shares in the company, valued at approximately $26,779,758.08. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,055 shares of company stock valued at $1,977,541 over the last 90 days. 11.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EverCommerce

Several institutional investors have recently modified their holdings of EVCM. Dimensional Fund Advisors LP lifted its position in EverCommerce by 39.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock valued at $3,740,000 after purchasing an additional 95,934 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of EverCommerce by 19.4% during the second 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 last quarter. AQR Capital Management LLC boosted its position in shares of EverCommerce by 394.8% during the second quarter. AQR Capital Management LLC now owns 55,620 shares of the company’s stock worth $611,000 after buying an additional 44,378 shares during the period. Millennium Management LLC grew its holdings in EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after buying an additional 281,551 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in EverCommerce by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock valued at $125,000 after acquiring an additional 1,089 shares during the period. Institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EVCM shares. Piper Sandler increased their target price on EverCommerce from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Oppenheimer increased their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Barclays boosted their target price on shares of EverCommerce from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. JMP Securities increased their price target on shares of EverCommerce from $12.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their price objective on EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.56.

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.