EverCommerce Inc. (NASDAQ:EVCM) Short Interest Update

EverCommerce Inc. (NASDAQ:EVCM) was the recipient of a significant increase in short interest in February. As of February 13th, there was short interest totaling 1,174,124 shares, an increase of 20.6% from the January 29th total of 973,262 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 145,842 shares, the short-interest ratio is presently 8.1 days. Based on an average daily trading volume, of 145,842 shares, the short-interest ratio is presently 8.1 days. Approximately 0.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EVCM shares. Barclays cut their price target on EverCommerce from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, November 10th. Raymond James Financial downgraded shares of EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EverCommerce in a research report on Thursday, January 22nd. Zacks Research lowered shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Finally, Royal Bank Of Canada downgraded EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective on the stock. in a report on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $11.00.

Insider Activity

In other news, President Matthew David Feierstein sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $11.34, for a total transaction of $113,400.00. Following the completion of the sale, the president owned 2,014,214 shares of the company’s stock, valued at approximately $22,841,186.76. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric Richard Remer sold 19,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $11.43, for a total value of $219,456.00. Following the completion of the transaction, the chief executive officer directly owned 2,592,997 shares in the company, valued at $29,637,955.71. The trade was a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 356,707 shares of company stock worth $4,039,125 over the last ninety days. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EVCM. XTX Topco Ltd increased its holdings in EverCommerce by 110.4% in the fourth quarter. XTX Topco Ltd now owns 51,877 shares of the company’s stock valued at $628,000 after purchasing an additional 27,224 shares during the last quarter. Barclays PLC grew its position in shares of EverCommerce by 5.1% during the 4th quarter. Barclays PLC now owns 22,854 shares of the company’s stock worth $277,000 after buying an additional 1,101 shares during the period. Wells Fargo & Company MN increased its stake in shares of EverCommerce by 76.8% in the 4th quarter. Wells Fargo & Company MN now owns 16,311 shares of the company’s stock valued at $198,000 after acquiring an additional 7,085 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of EverCommerce in the 4th quarter valued at about $177,000. Finally, Los Angeles Capital Management LLC raised its position in shares of EverCommerce by 111.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 66,317 shares of the company’s stock valued at $749,000 after acquiring an additional 34,979 shares during the period. 97.91% of the stock is currently owned by institutional investors.

EverCommerce Trading Down 1.7%

EVCM opened at $12.13 on Friday. The firm has a 50 day simple moving average of $11.49 and a 200 day simple moving average of $11.08. EverCommerce has a fifty-two week low of $7.66 and a fifty-two week high of $14.41. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -1,211.79, a price-to-earnings-growth ratio of 2.51 and a beta of 1.04. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.02 and a quick ratio of 2.02.

About EverCommerce

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.