EverCommerce Inc. (NASDAQ:EVCM) Short Interest Update

EverCommerce Inc. (NASDAQ:EVCM) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,010,000 shares, an increase of 19.6% from the August 15th total of 844,600 shares. Approximately 6.6% of the shares of the company are short sold. Based on an average trading volume of 171,800 shares, the short-interest ratio is presently 5.9 days.

Insider Activity at EverCommerce

In other news, CEO Eric Richard Remer sold 3,992 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $11.07, for a total value of $44,191.44. Following the transaction, the chief executive officer now directly owns 1,254,286 shares in the company, valued at approximately $13,884,946.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 8,477 shares of company stock valued at $93,840. Corporate insiders own 11.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings 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 last quarter. Quest Partners LLC acquired a new stake in EverCommerce during the fourth quarter valued at approximately $135,000. Edgestream Partners L.P. acquired a new stake in EverCommerce during the first quarter valued at approximately $123,000. Renaissance Technologies LLC boosted its holdings in EverCommerce by 19.4% during the second quarter. Renaissance Technologies LLC now owns 16,600 shares of the company’s stock worth $182,000 after buying an additional 2,700 shares in the last quarter. Finally, RIA Advisory Group LLC acquired a new position in EverCommerce in the first quarter worth approximately $242,000. Institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on EVCM shares. Evercore ISI boosted their price objective on EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of EverCommerce from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EverCommerce has an average rating of “Moderate Buy” and an average target price of $11.45.

EverCommerce Price Performance

Shares of EVCM stock traded down $0.09 during midday trading on Tuesday, reaching $10.57. 122,411 shares of the company were exchanged, compared to its average volume of 151,681. The company’s 50 day moving average price is $10.82 and its two-hundred day moving average price is $10.08. The company has a market cap of $1.96 billion, a P/E ratio of -50.33 and a beta of 1.08. EverCommerce has a 12 month low of $6.22 and a 12 month high of $12.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.68 and a current ratio of 1.68.

EverCommerce (NASDAQ:EVCM) last announced its earnings results on Tuesday, August 6th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). EverCommerce had a negative return on equity of 5.33% and a negative net margin of 6.31%. The firm had revenue of $177.39 million for the quarter, compared to the consensus estimate of $171.88 million. EverCommerce’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that EverCommerce will post -0.11 earnings per share for the current year.

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.