EverCommerce Inc. (NASDAQ:EVCM – Get Rating) was the recipient of a large growth in short interest during the month of December. As of December 30th, there was short interest totalling 1,290,000 shares, a growth of 12.2% from the December 15th total of 1,150,000 shares. Based on an average daily volume of 258,100 shares, the days-to-cover ratio is currently 5.0 days. Currently, 4.9% of the company's stock are short sold.
Hedge Funds Weigh In On EverCommerce
A number of institutional investors and hedge funds have recently bought and sold shares of EVCM. UBS Group AG increased its stake in shares of EverCommerce by 871.7% in the third quarter. UBS Group AG now owns 2,711 shares of the company's stock valued at $29,000 after buying an additional 2,432 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of EverCommerce by 82.7% in the first quarter. Ameritas Investment Partners Inc. now owns 2,327 shares of the company's stock valued at $31,000 after buying an additional 1,053 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of EverCommerce in the third quarter valued at about $38,000. Tower Research Capital LLC TRC increased its stake in shares of EverCommerce by 379.4% in the third quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the company's stock valued at $40,000 after buying an additional 2,868 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of EverCommerce by 507.2% in the second quarter. Lazard Asset Management LLC now owns 5,398 shares of the company's stock valued at $48,000 after buying an additional 4,509 shares during the period. Institutional investors and hedge funds own 88.81% of the company's stock.
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EverCommerce Price Performance
EVCM traded up $0.25 on Monday, reaching $9.60. The stock had a trading volume of 180,855 shares, compared to its average volume of 214,025. EverCommerce has a fifty-two week low of $5.87 and a fifty-two week high of $14.22. The firm has a 50-day moving average of $7.16 and a 200-day moving average of $9.36. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -40.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85.
EverCommerce (NASDAQ:EVCM – Get Rating) last issued its earnings results on Thursday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.13). EverCommerce had a negative return on equity of 3.79% and a negative net
margin of 7.87%. The firm had revenue of $158.13 million during the quarter, compared to analyst estimates of $159.99 million. As a group, sell-side analysts anticipate that EverCommerce will post 0.28 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on EVCM shares. Deutsche Bank Aktiengesellschaft decreased their target price on EverCommerce from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Monday. Piper Sandler downgraded EverCommerce from an "overweight" rating to a "neutral" rating and cut their target price for the company from $11.00 to $9.00 in a research report on Monday, November 21st. Jefferies Financial Group cut their target price on EverCommerce from $13.00 to $9.00 in a research report on Friday, November 11th. Evercore ISI cut their target price on EverCommerce to $11.00 in a research report on Wednesday, November 16th. Finally, Canaccord Genuity Group cut their target price on EverCommerce from $17.00 to $12.00 in a research report on Friday, November 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.69.
EverCommerce Company Profile
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EverCommerce Inc, together with its subsidiaries, engages in providing integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company's solutions include business management software, including route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions that comprise e-invoicing, mobile payments, and integrated payment processing; customer engagement applications, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.
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