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

EverCommerce Inc. (NASDAQ:EVCM) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 826,500 shares, an increase of 25.4% from the May 31st total of 659,200 shares. Based on an average daily volume of 200,200 shares, the short-interest ratio is presently 4.1 days. Approximately 5.3% of the shares of the company are sold short.

EverCommerce Stock Performance

EverCommerce stock opened at $10.94 on Tuesday. EverCommerce has a 52-week low of $6.22 and a 52-week high of $12.32. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average is $9.92 and its 200 day moving average is $9.81.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). EverCommerce had a negative net margin of 6.02% and a negative return on equity of 4.92%. The business had revenue of $170.10 million for the quarter, compared to analysts’ expectations of $162.11 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts predict that EverCommerce will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on EVCM shares. JMP Securities restated a “market outperform” rating and set a $12.00 price objective on shares of EverCommerce in a research report on Friday, March 15th. Oppenheimer upped their price objective on EverCommerce from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.00 target price (down previously from $11.00) on shares of EverCommerce in a research note on Friday, March 15th. Royal Bank of Canada dropped their price target on EverCommerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $10.00 target price on shares of EverCommerce in a report on Friday, March 15th. 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 stock. Based on data from MarketBeat.com, EverCommerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

Insider Activity at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 14,502 shares of EverCommerce stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total value of $147,340.32. Following the completion of the sale, the chief executive officer now owns 1,277,559 shares of the company’s stock, valued at approximately $12,979,999.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other EverCommerce news, CEO Eric Richard Remer sold 14,502 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $10.16, for a total transaction of $147,340.32. Following the completion of the sale, the chief executive officer now directly owns 1,277,559 shares of the company’s stock, valued at $12,979,999.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Matthew David Feierstein sold 4,582 shares of EverCommerce stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $10.16, for a total transaction of $46,553.12. Following the transaction, the president now owns 2,305,612 shares in the company, valued at approximately $23,425,017.92. The disclosure for this sale can be found here. Insiders have sold a total of 65,822 shares of company stock worth $644,732 over the last quarter. Company insiders own 11.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Edgestream Partners L.P. bought a new stake in shares of EverCommerce in the 1st quarter worth about $123,000. Quest Partners LLC purchased a new stake in EverCommerce in the 4th quarter worth about $135,000. RIA Advisory Group LLC bought a new stake in EverCommerce in the first quarter worth about $242,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of EverCommerce by 7.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock valued at $254,000 after buying an additional 1,500 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of EverCommerce during the fourth quarter valued at approximately $391,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.