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

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research lowered shares of EverCommerce from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Barclays lowered their target price on EverCommerce from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of EverCommerce in a research report on Wednesday, October 8th. Lake Street Capital set a $11.00 price objective on EverCommerce in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada downgraded shares of EverCommerce from an “outperform” rating to a “sector perform” rating and set a $12.00 target price for the company. in a research note on Monday, January 5th. Two investment 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, EverCommerce presently has a consensus rating of “Reduce” and a consensus target price of $11.00.

Insider Buying and Selling at EverCommerce

In related news, CEO Eric Richard Remer sold 8,318 shares of the business’s 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 sale, the chief executive officer directly owned 2,741,618 shares in the company, valued at $32,570,421.84. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Matthew David Feierstein sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $12.10, for a total transaction of $60,500.00. Following the transaction, the president owned 2,065,919 shares of the company’s stock, valued at $24,997,619.90. This trade represents a 0.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 328,768 shares of company stock worth $3,641,624 in the last three months. 10.40% of the stock is owned by corporate insiders.

Institutional Trading of EverCommerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of EverCommerce by 328.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 714,519 shares of the company’s stock worth $7,502,000 after acquiring an additional 547,712 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in EverCommerce during the second quarter worth approximately $5,039,000. Tudor Investment Corp ET AL raised its stake in EverCommerce by 200.7% during the third quarter. Tudor Investment Corp ET AL now owns 125,553 shares of the company’s stock worth $1,397,000 after purchasing an additional 83,794 shares during the period. Squarepoint Ops LLC purchased a new position in EverCommerce during the second quarter worth approximately $595,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of EverCommerce by 5,995.2% in the 2nd quarter. Lazard Asset Management LLC now owns 49,859 shares of the company’s stock valued at $523,000 after purchasing an additional 49,041 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Price Performance

EVCM stock opened at $12.75 on Tuesday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -1,273.73, a price-to-earnings-growth ratio of 2.59 and a beta of 1.03. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.71. EverCommerce has a 52-week low of $7.66 and a 52-week high of $14.41. The stock’s fifty day simple moving average is $10.70 and its 200-day simple moving average is $11.01.

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.