Benchmark restated their buy rating on shares of i3 Verticals (NASDAQ:IIIV – Free Report) in a research note released on Friday, Benzinga reports. They currently have a $33.00 price target on the stock.
A number of other analysts have also recently weighed in on the stock. KeyCorp cut their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an overweight rating on the stock in a report on Monday, August 12th. Stephens reiterated an overweight rating and set a $29.00 price target on shares of i3 Verticals in a research note on Friday. BMO Capital Markets decreased their price objective on shares of i3 Verticals from $25.00 to $24.00 and set a market perform rating for the company in a research note on Monday, May 13th. Finally, Raymond James dropped their price objective on i3 Verticals from $31.00 to $28.00 and set a strong-buy rating on the stock in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $26.83.
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i3 Verticals Stock Up 1.6 %
Hedge Funds Weigh In On i3 Verticals
Large investors have recently added to or reduced their stakes in the business. Long Path Partners LP purchased a new position in shares of i3 Verticals during the 2nd quarter worth about $12,756,000. Hood River Capital Management LLC boosted its holdings in shares of 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 valued at $25,635,000 after purchasing an additional 337,576 shares during the last quarter. Mason Capital Management LLC purchased a new stake in shares of i3 Verticals during the 2nd quarter valued at $7,443,000. Confluence Investment Management LLC increased its holdings in shares of i3 Verticals by 102.7% during the 2nd quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after buying an additional 155,338 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of i3 Verticals by 147.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after buying an additional 146,222 shares during the period. 84.22% of the stock is currently owned by hedge funds and other institutional investors.
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.
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