Victory Capital Management Inc. Raises Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

Victory Capital Management Inc. lifted its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,700 shares of the company’s stock after acquiring an additional 1,950 shares during the quarter. Victory Capital Management Inc. owned approximately 0.14% of i3 Verticals worth $1,009,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IIIV. YHB Investment Advisors Inc. bought a new position in i3 Verticals during the first quarter worth about $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of i3 Verticals during the 4th quarter valued at approximately $30,000. Comerica Bank boosted its holdings in i3 Verticals by 46.0% in the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after buying an additional 672 shares during the period. SG Americas Securities LLC purchased a new position in i3 Verticals in the 2nd quarter valued at approximately $116,000. Finally, Argent Capital Management LLC bought a new stake in i3 Verticals during the 1st quarter valued at $200,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Stock Performance

Shares of IIIV opened at $21.99 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $22.63 and a 200-day moving average price of $21.83. The company has a market cap of $736.05 million, a PE ratio of 2,254.00 and a beta of 1.55. i3 Verticals, Inc. has a 12-month low of $17.54 and a 12-month high of $25.51.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). The company had revenue of $56.04 million during the quarter, compared to analysts’ expectations of $96.43 million. i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. As a group, equities analysts forecast that i3 Verticals, Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. KeyCorp cut their price target on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Raymond James reduced their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, August 12th. Stephens reissued an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a report on Friday, August 16th. Finally, Benchmark restated a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.83.

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.