Brokerages Set i3 Verticals, Inc. (NASDAQ:IIIV) Price Target at $26.83

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $27.57.

A number of equities analysts have commented on IIIV shares. Stephens reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a report on Friday, August 16th. DA Davidson reiterated a “buy” rating and set a $32.00 price target on shares of i3 Verticals in a research report on Monday. Benchmark restated a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, September 3rd. Raymond James dropped their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 12th. Finally, KeyCorp cut their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th.

i3 Verticals Price Performance

Shares of IIIV stock opened at $21.15 on Monday. The firm has a market cap of $707.93 million, a P/E ratio of 2,115.00 and a beta of 1.54. The firm has a fifty day moving average of $22.23 and a two-hundred day moving average of $21.77. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. i3 Verticals has a 1-year low of $17.54 and a 1-year high of $25.51.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.31). i3 Verticals had a negative net margin of 0.01% and a positive return on equity of 5.99%. The firm had revenue of $56.04 million during the quarter, compared to the consensus estimate of $96.43 million. As a group, research analysts anticipate that i3 Verticals will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On i3 Verticals

Several large investors have recently bought and sold shares of the stock. Ranger Investment Management L.P. boosted its holdings in shares of i3 Verticals by 2.6% in the fourth quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock valued at $22,186,000 after acquiring an additional 26,670 shares in the last quarter. Palogic Value Management L.P. boosted its position in shares of i3 Verticals by 65.5% during the 4th quarter. Palogic Value Management L.P. now owns 120,000 shares of the company’s stock valued at $2,540,000 after purchasing an additional 47,500 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of i3 Verticals during the 1st quarter valued at about $3,461,000. CIBC Private Wealth Group LLC grew its stake in shares of i3 Verticals by 147.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after purchasing an additional 146,222 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of i3 Verticals in the second quarter valued at $600,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.