DA Davidson Issues Positive Forecast for i3 Verticals (NASDAQ:IIIV) Stock Price

i3 Verticals (NASDAQ:IIIV) had its target price raised by DA Davidson from $32.00 to $34.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on IIIV. Stephens restated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. BMO Capital Markets boosted their price target on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday. KeyCorp raised their price objective on i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Benchmark reissued a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.86.

i3 Verticals Stock Performance

Shares of NASDAQ IIIV opened at $29.22 on Monday. The stock has a market capitalization of $980.04 million, a P/E ratio of 6.51 and a beta of 1.51. The stock’s fifty day moving average is $24.06 and its 200 day moving average is $23.29. i3 Verticals has a 52 week low of $18.21 and a 52 week high of $29.80.

i3 Verticals (NASDAQ:IIIV) last released its earnings results 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 net margin of 41.85% and a return on equity of 3.59%. Equities research analysts forecast that i3 Verticals will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the sale, the president now directly owns 100,000 shares of the company’s stock, valued at $2,528,000. The trade was a 14.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 59.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On i3 Verticals

Hedge funds have recently modified their holdings of the business. Swiss National Bank increased its holdings in i3 Verticals by 2.0% in the fourth quarter. Swiss National Bank now owns 46,700 shares of the company’s stock valued at $1,076,000 after purchasing an additional 900 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of i3 Verticals by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company’s stock valued at $1,529,000 after buying an additional 1,404 shares during the last quarter. Argent Capital Management LLC increased its stake in shares of i3 Verticals by 15.0% in the third quarter. Argent Capital Management LLC now owns 16,180 shares of the company’s stock valued at $345,000 after buying an additional 2,114 shares during the period. State Street Corp raised its position in shares of i3 Verticals by 0.5% during the third quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after acquiring an additional 2,664 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of i3 Verticals by 6.1% in the third quarter. Victory Capital Management Inc. now owns 48,500 shares of the company’s stock worth $1,034,000 after acquiring an additional 2,800 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

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.