Charles Schwab Investment Management Inc. Raises Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Charles Schwab Investment Management Inc. grew its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,350 shares of the company’s stock after buying an additional 1,404 shares during the period. Charles Schwab Investment Management Inc. owned 0.20% of i3 Verticals worth $1,529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IIIV. Quantbot Technologies LP acquired a new position in i3 Verticals in the third quarter valued at approximately $109,000. Atom Investors LP acquired a new position in shares of i3 Verticals in the 3rd quarter valued at $218,000. Portolan Capital Management LLC grew its holdings in shares of i3 Verticals by 3.8% during the 3rd quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after purchasing an additional 23,921 shares during the period. State Street Corp grew its holdings in shares of i3 Verticals by 0.5% during the 3rd quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after purchasing an additional 2,664 shares during the period. Finally, Barclays PLC increased its position in shares of i3 Verticals by 112.3% during the 3rd quarter. Barclays PLC now owns 41,036 shares of the company’s stock worth $873,000 after purchasing an additional 21,709 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Stock Performance

Shares of IIIV stock opened at $24.59 on Friday. i3 Verticals, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $29.80. The company has a 50 day moving average price of $25.75 and a 200 day moving average price of $24.11. The stock has a market capitalization of $813.29 million, a P/E ratio of 5.48 and a beta of 1.52.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly 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 return on equity of 3.36% and a net margin of 41.85%. On average, research analysts forecast that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on IIIV. Morgan Stanley upped their target price on shares of i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. DA Davidson upped their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, February 10th. BMO Capital Markets lifted their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, February 10th. Finally, KeyCorp boosted their target price on i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, i3 Verticals presently has a consensus rating of “Moderate Buy” and an average price target of $29.86.

i3 Verticals 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.