i3 Verticals, Inc. (NASDAQ:IIIV) Shares Bought by AlphaQuest LLC

AlphaQuest LLC boosted its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 688,600.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,887 shares of the company’s stock after purchasing an additional 6,886 shares during the quarter. AlphaQuest LLC’s holdings in i3 Verticals were worth $159,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Long Path Partners LP grew its position in i3 Verticals by 61.5% during the 3rd quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after purchasing an additional 355,392 shares during the period. Portolan Capital Management LLC grew its position in i3 Verticals by 3.8% during the 3rd quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after purchasing an additional 23,921 shares during the period. Raymond James Financial Inc. acquired a new stake in i3 Verticals during the 4th quarter worth about $13,313,000. State Street Corp grew its position in i3 Verticals by 0.5% during the 3rd quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after purchasing an additional 2,664 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in i3 Verticals during the 4th quarter worth about $4,233,000. 84.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets increased their price target on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th. Stephens reissued an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. KeyCorp increased their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. DA Davidson increased their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, Benchmark reissued a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.86.

i3 Verticals Trading Up 2.6 %

Shares of i3 Verticals stock opened at $24.01 on Tuesday. The firm has a market capitalization of $794.11 million, a PE ratio of 5.35 and a beta of 1.52. i3 Verticals, Inc. has a twelve month low of $18.75 and a twelve month high of $29.80. The firm’s 50-day moving average price is $25.54 and its 200 day moving average price is $23.93.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. On average, sell-side analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

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.