EverCommerce Inc. (NASDAQ:EVCM) Sees Significant Drop in Short Interest

EverCommerce Inc. (NASDAQ:EVCM) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 853,791 shares, a decrease of 23.9% from the December 15th total of 1,121,736 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 276,775 shares, the short-interest ratio is presently 3.1 days. Based on an average trading volume of 276,775 shares, the short-interest ratio is presently 3.1 days. Approximately 0.5% of the shares of the company are sold short.

EverCommerce Price Performance

EVCM traded up $0.34 during trading on Friday, hitting $12.75. 190,497 shares of the company’s stock were exchanged, compared to its average volume of 146,665. EverCommerce has a 1 year low of $7.66 and a 1 year high of $14.41. The stock has a 50 day moving average price of $10.62 and a 200 day moving average price of $10.99. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.02 and a quick ratio of 2.02.

Insider Buying and Selling

In other EverCommerce news, CEO Eric Richard Remer sold 8,318 shares of the business’s stock in a transaction on 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 directly owned 2,741,618 shares of the company’s stock, valued at approximately $32,570,421.84. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Matthew David Feierstein sold 5,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $12.10, for a total transaction of $60,500.00. Following the transaction, the president directly owned 2,065,919 shares of the company’s stock, valued at $24,997,619.90. This represents a 0.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 340,503 shares of company stock valued at $3,775,872 over the last ninety days. 10.40% of the stock is owned by insiders.

Institutional Trading of EverCommerce

A number of hedge funds and other institutional investors have recently modified their holdings of EVCM. Federated Hermes Inc. grew its position in shares of EverCommerce by 118.3% during the 3rd 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 bought a new position in EverCommerce in the third quarter worth about $91,000. R Squared Ltd acquired a new position in EverCommerce in the third quarter valued at approximately $122,000. Prudential Financial Inc. grew its holdings in shares of EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Inceptionr LLC bought a new position in shares of EverCommerce during the second quarter valued at approximately $159,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on EVCM shares. Royal Bank Of Canada lowered shares of EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 price target on the stock. in a research report on Monday, January 5th. Zacks Research cut EverCommerce from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Lake Street Capital set a $11.00 price target on EverCommerce in a research report on Tuesday, October 14th. Barclays reduced their price objective on EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Finally, Raymond James Financial cut EverCommerce from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $11.00.

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.