i3 Verticals (NASDAQ:IIIV) Sets New 12-Month High – Here’s Why

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) hit a new 52-week high on Wednesday . The company traded as high as $26.00 and last traded at $25.84, with a volume of 2404 shares traded. The stock had previously closed at $25.78.

Wall Street Analysts Forecast Growth

IIIV has been the topic of a number of research reports. Stephens restated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research report on Friday, August 16th. KeyCorp dropped their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. DA Davidson reissued a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research note on Monday, September 30th. Benchmark reissued a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research note on Tuesday, September 3rd. Finally, Raymond James dropped their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

i3 Verticals Trading Down 2.9 %

The firm has a fifty day simple moving average of $22.72 and a two-hundred day simple moving average of $21.94. The firm has a market capitalization of $840.33 million, a P/E ratio of -276.33 and a beta of 1.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98.

Institutional Investors Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank grew its position in shares of i3 Verticals by 46.0% during the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after purchasing an additional 672 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of i3 Verticals during the 3rd quarter valued at $109,000. SG Americas Securities LLC purchased a new position in shares of i3 Verticals during the 2nd quarter valued at $116,000. EntryPoint Capital LLC purchased a new position in shares of i3 Verticals during the 1st quarter valued at $210,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of i3 Verticals during the 2nd quarter valued at $292,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Company 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.