Ferguson Wellman Capital Management Inc. Invests $223,000 in i3 Verticals, Inc. (NASDAQ:IIIV)

Ferguson Wellman Capital Management Inc. bought a new position in i3 Verticals, Inc. (NASDAQ:IIIV) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,740 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds also recently made changes to their positions in the company. Ranger Investment Management L.P. lifted its stake in shares of i3 Verticals by 2.6% in the 4th quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock worth $22,186,000 after acquiring an additional 26,670 shares during the period. Palogic Value Management L.P. lifted its stake in shares of i3 Verticals by 65.5% in the fourth 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 during the period. ABS Direct Equity Fund LLC acquired a new stake in shares of i3 Verticals in the fourth quarter valued at about $741,000. CIBC Private Wealth Group LLC lifted its stake in shares of i3 Verticals by 147.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock valued at $5,196,000 after purchasing an additional 146,222 shares during the period. Finally, Confluence Investment Management LLC acquired a new stake in shares of i3 Verticals in the first quarter valued at about $3,461,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on IIIV shares. Benchmark reiterated a “buy” rating and issued a $28.00 price objective on shares of i3 Verticals in a research note on Monday, April 1st. KeyCorp raised their price objective on shares of i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. BMO Capital Markets dropped their target price on shares of i3 Verticals from $25.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, May 13th. Finally, TheStreet upgraded shares of i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. Two 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.57.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $19.80 on Friday. The company has a market capitalization of $662.71 million, a P/E ratio of 1,981.98 and a beta of 1.59. i3 Verticals, Inc. has a twelve month low of $17.54 and a twelve month high of $25.70. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $20.86 and a two-hundred day moving average price of $20.92.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results on Friday, May 10th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The firm had revenue of $94.54 million for the quarter, compared to analysts’ expectations of $96.27 million. i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. As a group, research analysts expect that i3 Verticals, Inc. will post 0.91 earnings per share for the current fiscal year.

i3 Verticals Company Profile

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.