i3 Verticals’ (IIIV) Overweight Rating Reaffirmed at Stephens

Stephens reaffirmed their overweight rating on shares of i3 Verticals (NASDAQ:IIIV) in a report released on Tuesday,Benzinga reports. Stephens currently has a $29.00 price target on the stock.

IIIV has been the topic of several other research reports. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research note on Monday, September 30th. Raymond James decreased 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. Benchmark reaffirmed a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a research note on Tuesday. BMO Capital Markets decreased their price target on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, October 3rd. Finally, KeyCorp decreased their price target 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. Two 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.14.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV opened at $23.67 on Tuesday. i3 Verticals has a 1-year low of $17.54 and a 1-year high of $26.00. The firm has a market capitalization of $799.79 million, a PE ratio of 5.32 and a beta of 1.53. The business’s 50 day moving average is $23.00 and its 200-day moving average is $21.99. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01.

Hedge Funds Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hood River Capital Management LLC boosted its stake in i3 Verticals by 6.3% in the second quarter. Hood River Capital Management LLC now owns 1,190,184 shares of the company’s stock worth $26,279,000 after purchasing an additional 70,253 shares in the last quarter. Long Path Partners LP raised its position in shares of i3 Verticals by 61.5% during the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after acquiring an additional 355,392 shares during the last quarter. Portolan Capital Management LLC raised its position in shares of i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after acquiring an additional 23,921 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of i3 Verticals during the third quarter worth $11,373,000. Finally, 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. Institutional investors and hedge funds own 84.22% of the company’s stock.

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.