i3 Verticals (NASDAQ:IIIV) Price Target Raised to $32.00

i3 Verticals (NASDAQ:IIIV) had its price objective raised by KeyCorp from $27.00 to $32.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Stephens restated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, i3 Verticals currently has an average rating of “Moderate Buy” and a consensus target price of $29.86.

i3 Verticals Stock Performance

Shares of IIIV opened at $28.93 on Monday. The stock has a market capitalization of $970.31 million, a PE ratio of 6.44 and a beta of 1.51. The company’s fifty day moving average is $24.25 and its 200 day moving average is $23.36. i3 Verticals has a fifty-two week low of $18.52 and a fifty-two week high of $29.80.

i3 Verticals (NASDAQ:IIIV) last posted its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. As a group, research analysts forecast that i3 Verticals will post 0.9 earnings per share for the current year.

Insider Buying and Selling at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the sale, the president now directly owns 100,000 shares of the company’s stock, valued at approximately $2,528,000. The trade was a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 59.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in i3 Verticals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company’s stock worth $30,544,000 after acquiring an additional 19,342 shares in the last quarter. Long Path Partners LP grew its stake in i3 Verticals by 5.0% in the fourth quarter. Long Path Partners LP now owns 979,777 shares of the company’s stock worth $22,574,000 after purchasing an additional 46,679 shares in the last quarter. AltraVue Capital LLC purchased a new position in i3 Verticals during the 4th quarter worth $20,993,000. Portolan Capital Management LLC increased its holdings in i3 Verticals by 3.8% during the 3rd quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after purchasing an additional 23,921 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in i3 Verticals during the 4th quarter valued at $13,313,000. 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.