Benchmark Boosts i3 Verticals (NASDAQ:IIIV) Price Target to $33.00

i3 Verticals (NASDAQ:IIIV) had its price objective raised by stock analysts at Benchmark from $28.00 to $33.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 32.96% from the stock’s previous close.

Several other equities analysts have also issued reports on IIIV. Stephens boosted their price objective on i3 Verticals from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. KeyCorp increased their price objective on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets reduced their target price 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. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

i3 Verticals Stock Performance

IIIV stock traded down $0.17 during midday trading on Monday, hitting $24.82. The stock had a trading volume of 24,265 shares, compared to its average volume of 232,520. The firm has a market capitalization of $830.78 million, a price-to-earnings ratio of 2,479.00 and a beta of 1.58. i3 Verticals has a 52 week low of $17.54 and a 52 week high of $25.51. The stock has a 50-day simple moving average of $20.99 and a 200 day simple moving average of $21.24. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings data on Friday, May 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. The company had revenue of $94.54 million for the quarter, compared to analyst estimates of $96.27 million. As a group, equities research analysts anticipate that i3 Verticals will post 0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IIIV. Geneva Capital Management LLC raised its stake in shares of i3 Verticals by 1.7% in the first quarter. Geneva Capital Management LLC now owns 1,919,097 shares of the company’s stock valued at $43,928,000 after buying an additional 31,271 shares during the period. Vanguard Group Inc. increased its stake in i3 Verticals by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,262,579 shares of the company’s stock worth $26,691,000 after acquiring an additional 9,705 shares during the last quarter. Hood River Capital Management LLC increased its stake in i3 Verticals by 43.1% in the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after acquiring an additional 337,576 shares during the last quarter. Ranger Investment Management L.P. increased its stake in i3 Verticals by 2.6% in the 4th quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock worth $22,186,000 after acquiring an additional 26,670 shares during the last quarter. Finally, Heartland Advisors Inc. increased its stake in i3 Verticals by 10.9% in the 1st quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock worth $13,729,000 after acquiring an additional 59,050 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

About i3 Verticals

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.