EverCommerce Inc. (NASDAQ:EVCM) Short Interest Up 26.7% in October

EverCommerce Inc. (NASDAQ:EVCM) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,060,000 shares, a growth of 26.7% from the October 15th total of 836,700 shares. Approximately 7.1% of the shares of the company are short sold. Based on an average trading volume of 100,000 shares, the short-interest ratio is presently 10.6 days.

EverCommerce Stock Performance

Shares of EVCM stock opened at $11.12 on Friday. The stock’s fifty day simple moving average is $10.64 and its 200 day simple moving average is $10.54. EverCommerce has a one year low of $6.22 and a one year high of $12.35. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $176.26 million during the quarter, compared to analyst estimates of $174.87 million. EverCommerce had a negative net margin of 7.53% and a negative return on equity of 6.56%. The business’s revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that EverCommerce will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on EVCM shares. Oppenheimer increased their price target on shares of EverCommerce from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada increased their target price on shares of EverCommerce from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI boosted their price target on EverCommerce from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on EverCommerce from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Finally, JMP Securities boosted their price objective on EverCommerce from $12.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, EverCommerce currently has an average rating of “Moderate Buy” and an average target price of $12.56.

Insider Buying and Selling at EverCommerce

In other news, CEO Eric Richard Remer sold 7,099 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $10.69, for a total value of $75,888.31. Following the completion of the sale, the chief executive officer now directly owns 8,124,163 shares of the company’s stock, valued at approximately $86,847,302.47. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 111,377 shares of company stock worth $1,217,786 over the last ninety days. Company insiders own 11.60% of the company’s stock.

Institutional Trading of EverCommerce

Several large investors have recently added to or reduced their stakes in EVCM. Millennium Management LLC boosted its holdings in shares of EverCommerce by 673.4% in the 2nd quarter. Millennium Management LLC now owns 323,360 shares of the company’s stock worth $3,550,000 after acquiring an additional 281,551 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in EverCommerce in the 3rd quarter valued at $570,000. Dimensional Fund Advisors LP boosted its stake in EverCommerce by 39.2% in the second quarter. Dimensional Fund Advisors LP now owns 340,684 shares of the company’s stock worth $3,740,000 after purchasing an additional 95,934 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of EverCommerce during the first quarter worth $123,000. Finally, Vanguard Group Inc. increased its stake in shares of EverCommerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 1,664,942 shares of the company’s stock valued at $15,684,000 after buying an additional 30,481 shares in the last quarter. 97.91% of the stock is owned by 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.