Benchmark Reiterates “Buy” Rating for i3 Verticals (NASDAQ:IIIV)

Benchmark reiterated their buy rating on shares of i3 Verticals (NASDAQ:IIIV) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $33.00 price target on the stock.

A number of other brokerages also recently commented on IIIV. Stephens restated an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a research note on Friday, August 16th. BMO Capital Markets reduced their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, October 3rd. KeyCorp reduced their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Raymond James reduced their price objective on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. Finally, DA Davidson reiterated a “buy” rating and set a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.14.

i3 Verticals Stock Performance

Shares of IIIV stock opened at $23.67 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average of $23.00 and a two-hundred day moving average of $21.99. i3 Verticals has a 52 week low of $17.54 and a 52 week high of $26.00. The company has a market cap of $799.79 million, a P/E ratio of 5.32 and a beta of 1.53.

Institutional Investors Weigh In On i3 Verticals

A number of institutional investors have recently added to or reduced their stakes in IIIV. Comerica Bank increased its holdings in shares of i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after buying an additional 672 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of i3 Verticals in the third quarter valued at $109,000. SG Americas Securities LLC bought a new position in shares of i3 Verticals in the second quarter valued at $116,000. Atom Investors LP bought a new position in shares of i3 Verticals in the third quarter valued at $218,000. Finally, Sanctuary Advisors LLC bought a new position in shares of i3 Verticals in the second quarter valued at $292,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

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.