Analysts Set i3 Verticals, Inc. (NASDAQ:IIIV) Target Price at $27.14

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $27.14.

Several analysts have recently commented on IIIV shares. DA Davidson reissued a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research note on Monday, September 30th. Stephens reissued an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. 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. Benchmark reiterated a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Finally, Raymond James cut their price target on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, August 12th.

Hedge Funds Weigh In On i3 Verticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its position in i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after acquiring an additional 672 shares during the period. Quantbot Technologies LP purchased a new stake in shares of i3 Verticals during the 3rd quarter worth approximately $109,000. SG Americas Securities LLC purchased a new stake in shares of i3 Verticals during the 2nd quarter worth approximately $116,000. EntryPoint Capital LLC bought a new stake in shares of i3 Verticals in the 1st quarter worth approximately $210,000. Finally, Atom Investors LP purchased a new position in i3 Verticals in the third quarter valued at approximately $218,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Trading Up 1.5 %

NASDAQ:IIIV opened at $24.02 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. i3 Verticals has a one year low of $17.54 and a one year high of $26.00. The company has a market cap of $811.64 million, a PE ratio of 5.40 and a beta of 1.53. The firm has a 50-day moving average of $23.03 and a 200-day moving average of $22.00.

i3 Verticals Company Profile

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.