Short Interest in EverCommerce Inc. (NASDAQ:EVCM) Increases By 20.6%

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

Insider Activity

In other news, President Matthew David Feierstein sold 10,921 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $10.03, for a total value of $109,537.63. Following the sale, the president owned 2,100,919 shares of the company’s stock, valued at $21,072,217.57. The trade was a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric Richard Remer sold 32,706 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $9.87, for a total transaction of $322,808.22. Following the sale, the chief executive officer owned 2,833,139 shares in the company, valued at $27,963,081.93. The trade was a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 390,448 shares of company stock valued at $4,362,266 in the last quarter. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of EverCommerce

A number of hedge funds have recently made changes to their positions in EVCM. Federated Hermes Inc. increased its stake in EverCommerce by 118.3% in the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after acquiring an additional 1,667 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of EverCommerce in the 3rd quarter worth about $91,000. R Squared Ltd bought a new position in shares of EverCommerce during the 3rd quarter valued at about $122,000. Prudential Financial Inc. raised its holdings in shares of EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after buying an additional 1,190 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in EverCommerce in the 4th quarter worth approximately $177,000. 97.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

EverCommerce Stock Up 2.8%

Shares of NASDAQ EVCM opened at $11.61 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average of $11.48 and a 200-day moving average of $11.06. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -1,159.84, a PEG ratio of 2.30 and a beta of 1.04. EverCommerce has a 12 month low of $7.66 and a 12 month high of $14.41.

EverCommerce Company Profile

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.