EverCommerce Inc. (NASDAQ:EVCM) Short Interest Up 12.0% in September

EverCommerce Inc. (NASDAQ:EVCM) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 995,600 shares, a growth of 12.0% from the September 15th total of 888,900 shares. Approximately 6.8% of the company’s shares are short sold. Based on an average daily volume of 120,900 shares, the days-to-cover ratio is currently 8.2 days.

Insider Transactions at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 7,099 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $10.69, for a total transaction of $75,888.31. Following the completion of the sale, the chief executive officer now owns 8,124,163 shares in the company, valued at approximately $86,847,302.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 41,799 shares of company stock worth $438,333 in the last quarter. 11.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On EverCommerce

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of EverCommerce during the 3rd quarter valued at $107,000. Edgestream Partners L.P. acquired a new position in EverCommerce in the first quarter valued at about $123,000. The Manufacturers Life Insurance Company lifted its position 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 purchasing an additional 1,089 shares during the period. Renaissance Technologies LLC grew 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 buying an additional 2,700 shares in the last quarter. Finally, RIA Advisory Group LLC bought a new position in EverCommerce in the 1st quarter valued at about $242,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

EverCommerce Stock Performance

Shares of EVCM traded up $0.01 during mid-day trading on Thursday, reaching $10.62. The company’s stock had a trading volume of 8,860 shares, compared to its average volume of 144,737. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.97 billion, a P/E ratio of -50.52 and a beta of 1.08. EverCommerce has a 1-year low of $6.22 and a 1-year high of $12.35. The business has a 50-day simple moving average of $10.32 and a two-hundred day simple moving average of $10.24.

EverCommerce (NASDAQ:EVCM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $177.39 million during the quarter, compared to the consensus estimate of $171.88 million. EverCommerce had a negative net margin of 6.31% and a negative return on equity of 5.33%. EverCommerce’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that EverCommerce will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.