i3 Verticals (NASDAQ:IIIV) Shares Gap Up Following Analyst Upgrade

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) gapped up prior to trading on Thursday after Stephens raised their price target on the stock from $27.00 to $29.00. The stock had previously closed at $19.75, but opened at $23.49. Stephens currently has an overweight rating on the stock. i3 Verticals shares last traded at $22.76, with a volume of 91,645 shares changing hands.

IIIV has been the topic of several other reports. Benchmark reiterated a “buy” rating and issued a $28.00 target price on shares of i3 Verticals in a report on Monday, April 1st. TheStreet upgraded i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. BMO Capital Markets cut their price target on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, May 13th. Finally, KeyCorp increased their price target on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Two research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.14.

Institutional Investors Weigh In On i3 Verticals

Large investors have recently made changes to their positions in the business. YHB Investment Advisors Inc. purchased a new stake in shares of i3 Verticals during the 1st quarter valued at $25,000. Cape Investment Advisory Inc. bought a new position in i3 Verticals in the 4th quarter worth about $30,000. Comerica Bank boosted its stake in i3 Verticals by 46.0% in the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after purchasing an additional 672 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of i3 Verticals by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company’s stock valued at $106,000 after acquiring an additional 1,345 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of i3 Verticals by 31.0% during the 4th quarter. SG Americas Securities LLC now owns 7,762 shares of the company’s stock valued at $164,000 after acquiring an additional 1,836 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Trading Up 15.2 %

The stock has a market cap of $761.78 million, a P/E ratio of 2,278.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day moving average price of $20.54 and a 200-day moving average price of $20.91.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results on Friday, May 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $94.54 million for the quarter, compared to the consensus estimate of $96.27 million. i3 Verticals had a net margin of 0.63% and a return on equity of 8.91%. On average, equities research analysts expect that i3 Verticals, Inc. will post 0.91 EPS for the current year.

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.