EverCommerce Inc. (NASDAQ:EVCM) Short Interest Up 19.6% in August

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

EverCommerce Stock Performance

Shares of EVCM traded up $0.37 during mid-day trading on Friday, hitting $10.69. The company’s stock had a trading volume of 97,550 shares, compared to its average volume of 152,086. EverCommerce has a one year low of $6.22 and a one year 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. The firm has a market capitalization of $1.98 billion, a PE ratio of -50.90 and a beta of 1.08. The stock’s 50-day moving average is $10.83 and its two-hundred day moving average is $10.07.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on EVCM. JPMorgan Chase & Co. increased their price objective on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on EverCommerce from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI upped their target price on EverCommerce from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.45.

Insider Activity

In other news, CEO Eric Richard Remer sold 3,992 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $11.07, for a total value of $44,191.44. Following the transaction, the chief executive officer now owns 1,254,286 shares in the company, valued at approximately $13,884,946.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 8,477 shares of company stock worth $93,840 in the last 90 days. Company insiders own 11.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in EverCommerce by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 11,360 shares of the company’s stock worth $125,000 after acquiring an additional 1,089 shares in the last quarter. Renaissance Technologies LLC raised its stake 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 acquiring an additional 2,700 shares in the last quarter. Bank of New York Mellon Corp raised its stake in EverCommerce by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 164,419 shares of the company’s stock worth $1,805,000 after acquiring an additional 9,595 shares in the last quarter. Quest Partners LLC acquired a new position in EverCommerce during the fourth quarter worth $135,000. Finally, Edgestream Partners L.P. acquired a new position in EverCommerce during the first quarter worth $123,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.