Short Interest in EverCommerce Inc. (NASDAQ:EVCM) Declines By 23.9%

EverCommerce Inc. (NASDAQ:EVCM) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 853,791 shares, a drop of 23.9% from the December 15th total of 1,121,736 shares. Based on an average daily volume of 276,775 shares, the short-interest ratio is currently 3.1 days. Approximately 0.5% of the shares of the stock are sold short. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 276,775 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EVCM. Royal Bank Of Canada lowered shares of EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price objective for the company. in a report on Monday, January 5th. Lake Street Capital set a $11.00 price target on EverCommerce in a research note on Tuesday, October 14th. Raymond James Financial lowered EverCommerce from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EverCommerce in a research note on Wednesday, October 8th. Finally, Barclays dropped their price target 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. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $11.00.

EverCommerce Stock Up 2.7%

NASDAQ EVCM traded up $0.34 during trading hours on Monday, reaching $12.75. 190,497 shares of the company’s stock traded hands, compared to its average volume of 146,665. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.02 and a quick ratio of 2.02. The firm has a 50-day simple moving average of $10.62 and a 200 day simple moving average of $10.99. EverCommerce has a 52-week low of $7.66 and a 52-week high of $14.41. The firm has a market cap of $2.29 billion, a PE ratio of -1,273.73, a PEG ratio of 2.59 and a beta of 1.03.

Insider Activity

In other news, President Matthew David Feierstein sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $12.10, for a total value of $60,500.00. Following the completion of the transaction, the president directly owned 2,065,919 shares in the company, valued at approximately $24,997,619.90. This represents a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric Richard Remer sold 8,318 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $11.88, for a total value of $98,817.84. Following the transaction, the chief executive officer owned 2,741,618 shares in the company, valued at $32,570,421.84. This trade represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 340,503 shares of company stock valued at $3,775,872. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in shares of EverCommerce by 118.3% during the third quarter. Federated Hermes Inc. now owns 3,076 shares of the company’s stock valued at $34,000 after buying an additional 1,667 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of EverCommerce during the 3rd quarter valued at about $91,000. R Squared Ltd bought a new position in shares of EverCommerce in the third quarter worth approximately $122,000. Prudential Financial Inc. lifted its stake 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, Inceptionr LLC purchased a new position in shares of EverCommerce in the second quarter valued at about $159,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.