i3 Verticals, Inc. (NASDAQ:IIIV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research 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 12 month price objective among brokerages that have issued ratings on the stock in the last year is $29.86.

Several equities research analysts have issued reports on IIIV shares. Morgan Stanley lifted their target price on shares of i3 Verticals from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. KeyCorp boosted their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. BMO Capital Markets increased their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, February 10th. Finally, DA Davidson raised 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.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $24.59 on Monday. i3 Verticals has a fifty-two week low of $18.75 and a fifty-two week high of $29.80. The company has a fifty day moving average of $25.75 and a two-hundred day moving average of $24.09. The stock has a market capitalization of $813.29 million, a PE ratio of 5.48 and a beta of 1.52.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.36% and a net margin of 41.85%. Research analysts forecast that i3 Verticals will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On i3 Verticals

Institutional investors have recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new stake in shares of i3 Verticals in the 4th quarter valued at approximately $72,000. KLP Kapitalforvaltning AS purchased a new stake in shares of i3 Verticals during the 4th quarter valued at approximately $99,000. Quantbot Technologies LP acquired a new position in i3 Verticals in the third quarter valued at approximately $109,000. CIBC Private Wealth Group LLC grew its position in i3 Verticals by 52.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock worth $126,000 after acquiring an additional 1,809 shares during the period. Finally, AlphaQuest LLC increased its stake in i3 Verticals by 688,600.0% during the fourth quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock worth $159,000 after acquiring an additional 6,886 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

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.