KeyCorp Has Lowered Expectations for i3 Verticals (NASDAQ:IIIV) Stock Price

i3 Verticals (NASDAQ:IIIV) had its price target cut by KeyCorp from $27.00 to $20.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 14.48% from the company’s previous close.

IIIV has been the topic of several other research reports. Benchmark downgraded shares of i3 Verticals from a “buy” rating to a “hold” rating in a report on Monday. DA Davidson lowered their price target on i3 Verticals from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Cantor Fitzgerald decreased their target price on i3 Verticals from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Finally, Weiss Ratings raised i3 Verticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.17.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $17.47 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $487.94 million, a P/E ratio of 45.97 and a beta of 0.83. The stock’s 50 day moving average price is $20.63 and its 200 day moving average price is $21.44. i3 Verticals has a 52 week low of $17.03 and a 52 week high of $33.97.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $57.52 million during the quarter, compared to analysts’ expectations of $57.51 million. i3 Verticals had a net margin of 4.24% and a return on equity of 4.30%. On average, research analysts forecast that i3 Verticals will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling at i3 Verticals

In related news, CEO Gregory S. Daily bought 50,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $19.23 per share, with a total value of $961,500.00. Following the completion of the purchase, the chief executive officer owned 50,000 shares in the company, valued at approximately $961,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 60.09% of the company’s stock.

Institutional Trading of i3 Verticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans lifted its holdings in i3 Verticals by 11.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 728,505 shares of the company’s stock worth $18,351,000 after buying an additional 73,420 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of i3 Verticals by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 616,851 shares of the company’s stock worth $13,794,000 after acquiring an additional 68,573 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of i3 Verticals during the fourth quarter valued at $9,733,000. UBS Group AG increased its position in i3 Verticals by 91.3% in the fourth quarter. UBS Group AG now owns 369,135 shares of the company’s stock worth $9,299,000 after purchasing an additional 176,181 shares during the period. Finally, North Reef Capital Management LP increased its position in i3 Verticals by 1,253.8% in the first quarter. North Reef Capital Management LP now owns 1,025,000 shares of the company’s stock worth $22,919,000 after purchasing an additional 949,289 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

About i3 Verticals

i3 Verticals, Inc is a provider of integrated software and merchant payment processing solutions tailored for specific vertical markets across the United States. Since its founding in 2001 and headquartered in Columbia, South Carolina, the company has focused on delivering SaaS-based applications and payment services to streamline revenue collection and management workflows for its clients.

The company’s product portfolio includes electronic payment processing for credit and debit card transactions, automated clearing house (ACH) transfers, online and mobile payment portals, and related risk management and compliance tools.