i3 Verticals (NASDAQ:IIIV) Shares Gap Up Following Analyst Upgrade

i3 Verticals, Inc. (NASDAQ:IIIV)’s share price gapped up prior to trading on Thursday after Stephens raised their price target on the stock from $27.00 to $29.00. The stock had previously closed at $19.75, but opened at $23.49. Stephens currently has an overweight rating on the stock. i3 Verticals shares last traded at $22.76, with a volume of 91,645 shares trading hands.

Other equities research analysts have also issued reports about the stock. KeyCorp lifted their price target on shares of i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Benchmark reiterated a “buy” rating and set a $28.00 price target on shares of i3 Verticals in a report on Monday, April 1st. TheStreet upgraded i3 Verticals from a “d+” rating to a “c-” rating in a research note on Monday, March 18th. Finally, BMO Capital Markets reduced their price objective on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, i3 Verticals presently has an average rating of “Moderate Buy” and a consensus target price of $27.14.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IIIV. YHB Investment Advisors Inc. bought a new stake in shares of i3 Verticals in the 1st quarter valued at about $25,000. Cape Investment Advisory Inc. acquired a new stake in i3 Verticals during the 4th quarter valued at approximately $30,000. Comerica Bank raised its holdings in i3 Verticals by 46.0% during the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after purchasing an additional 672 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of i3 Verticals by 36.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company’s stock worth $106,000 after purchasing an additional 1,345 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of i3 Verticals by 31.0% in the 4th quarter. SG Americas Securities LLC now owns 7,762 shares of the company’s stock valued at $164,000 after purchasing an additional 1,836 shares during the last quarter. 84.22% of the stock is owned by institutional investors.

i3 Verticals Stock Performance

The company’s 50-day moving average price is $20.53 and its two-hundred day moving average price is $20.92. The company has a market capitalization of $741.03 million, a price-to-earnings ratio of 2,216.22 and a beta of 1.59. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81.

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