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

i3 Verticals (NASDAQ:IIIV) had its target price raised by KeyCorp from $27.00 to $32.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on IIIV. Stephens reiterated an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

i3 Verticals Stock Performance

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

i3 Verticals (NASDAQ:IIIV) last posted 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 3.59% and a net margin of 41.85%. As a group, analysts forecast that i3 Verticals will post 0.9 EPS for the current fiscal year.

Insider Transactions at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the sale, the president now directly owns 100,000 shares in the company, valued at approximately $2,528,000. This represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 59.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of i3 Verticals in the 4th quarter worth approximately $13,313,000. TimesSquare Capital Management LLC purchased a new stake in i3 Verticals in the third quarter worth $11,373,000. Long Path Partners LP boosted its holdings in i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock valued at $19,884,000 after acquiring an additional 355,392 shares in the last quarter. Legato Capital Management LLC purchased a new position in i3 Verticals during the 4th quarter valued at $4,233,000. Finally, New York State Common Retirement Fund raised its holdings in i3 Verticals by 1,855.9% in the 4th quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock worth $4,051,000 after purchasing an additional 166,843 shares in the last quarter. Hedge funds and other institutional investors 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.