EverCommerce Inc. (NASDAQ:EVCM) Short Interest Update

EverCommerce Inc. (NASDAQ:EVCM) was the target of 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 trading volume of 200,200 shares, the short-interest ratio is currently 4.1 days. Approximately 5.3% of the company’s stock are sold short.

EverCommerce Trading Up 1.1 %

Shares of NASDAQ:EVCM traded up $0.12 during trading on Tuesday, reaching $11.06. The stock had a trading volume of 17,603 shares, compared to its average volume of 161,241. The firm’s fifty day moving average is $9.92 and its 200 day moving average is $9.81. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.71 and a current ratio of 1.71. EverCommerce has a 52 week low of $6.22 and a 52 week high of $12.32. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -52.09 and a beta of 1.10.

EverCommerce (NASDAQ:EVCM) last released its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $170.10 million for the quarter, compared to analyst estimates of $162.11 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts forecast that EverCommerce will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Lisa E. Storey sold 3,705 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $9.88, for a total value of $36,605.40. Following the completion of the transaction, the insider now owns 170,496 shares of the company’s stock, valued at $1,684,500.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, President Matthew David Feierstein sold 4,273 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $9.52, for a total transaction of $40,678.96. Following the completion of the sale, the president now owns 2,299,519 shares in the company, valued at approximately $21,891,420.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lisa E. Storey sold 3,705 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $9.88, for a total transaction of $36,605.40. Following the sale, the insider now owns 170,496 shares of the company’s stock, valued at approximately $1,684,500.48. 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 ninety days. Company insiders own 11.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its position in EverCommerce by 7.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,000 shares of the company’s stock worth $254,000 after acquiring an additional 1,500 shares during the period. Quest Partners LLC bought a new stake in shares of EverCommerce in the 4th quarter worth approximately $135,000. Edgestream Partners L.P. purchased a new position in EverCommerce in the first quarter valued at approximately $123,000. DekaBank Deutsche Girozentrale raised its stake in shares of EverCommerce by 57.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,000 shares of the company’s stock valued at $512,000 after buying an additional 20,000 shares during the period. Finally, RIA Advisory Group LLC purchased a new position in shares of EverCommerce during the 1st quarter valued at $242,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on EVCM shares. Barclays dropped their price objective on shares of EverCommerce from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Friday, March 15th. Canaccord Genuity Group boosted their target price on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Oppenheimer boosted their target price on shares of EverCommerce from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Royal Bank of Canada dropped their target price on shares of EverCommerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.00 price target (down from $11.00) on shares of EverCommerce in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.40.

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.