i3 Verticals’ (IIIV) Overweight Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of i3 Verticals (NASDAQ:IIIV) in a research note published on Tuesday,Benzinga reports. Stephens currently has a $29.00 price objective on the stock.

A number of other research analysts have also recently issued reports on IIIV. DA Davidson reiterated a “buy” rating and issued a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. BMO Capital Markets decreased their price target on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, October 3rd. Raymond James dropped their price objective on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, August 12th. Benchmark reaffirmed a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday. Finally, KeyCorp lowered their price target on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Two investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.14.

i3 Verticals Trading Down 3.0 %

Shares of IIIV stock opened at $23.38 on Tuesday. i3 Verticals has a fifty-two week low of $17.54 and a fifty-two week high of $26.00. The stock’s fifty day moving average price is $22.97 and its two-hundred day moving average price is $21.98. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $790.01 million, a PE ratio of 5.25 and a beta of 1.53.

Hedge Funds Weigh In On i3 Verticals

A number of hedge funds have recently modified their holdings of IIIV. Hood River Capital Management LLC increased its holdings 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 valued at $26,279,000 after purchasing an additional 70,253 shares during the period. Long Path Partners LP increased its stake in shares of i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock valued at $19,884,000 after buying an additional 355,392 shares during the period. 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 acquired a new position in shares of i3 Verticals in the third quarter worth approximately $11,373,000. Finally, State Street Corp boosted its holdings in i3 Verticals by 0.5% in the third quarter. State Street Corp now owns 495,943 shares of the company’s stock valued at $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.

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.