i3 Verticals, Inc. (NASDAQ:IIIV) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. 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 on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $29.86.

A number of brokerages have commented on IIIV. Benchmark reaffirmed a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. KeyCorp raised 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. DA Davidson raised their price target on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Morgan Stanley boosted their price objective on shares of i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, Stephens reiterated an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th.

Institutional Trading of i3 Verticals

A number of institutional investors and hedge funds have recently made changes to their positions in IIIV. TimesSquare Capital Management LLC bought a new position in i3 Verticals in the third quarter valued at approximately $11,373,000. Victory Capital Management Inc. boosted its holdings in shares of i3 Verticals by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 48,500 shares of the company’s stock valued at $1,034,000 after purchasing an additional 2,800 shares in the last quarter. Royce & Associates LP increased its stake in shares of i3 Verticals by 11.1% in the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock valued at $10,417,000 after purchasing an additional 48,840 shares during the last quarter. Long Path Partners LP raised its holdings in shares of 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 buying an additional 355,392 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of i3 Verticals during the 3rd quarter worth $109,000. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Stock Performance

Shares of IIIV opened at $25.43 on Thursday. The firm’s 50-day simple moving average is $25.40 and its 200 day simple moving average is $23.76. The firm has a market cap of $841.07 million, a P/E ratio of 5.66 and a beta of 1.51. i3 Verticals has a 52 week low of $18.75 and a 52 week high of $29.80.

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