Confluence Investment Management LLC Purchases New Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Confluence Investment Management LLC purchased a new stake in i3 Verticals, Inc. (NASDAQ:IIIV) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 151,202 shares of the company’s stock, valued at approximately $3,461,000. Confluence Investment Management LLC owned approximately 0.45% of i3 Verticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cape Investment Advisory Inc. purchased a new position in shares of i3 Verticals in the 4th quarter valued at about $30,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in i3 Verticals by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company’s stock worth $106,000 after buying an additional 1,345 shares in the last quarter. SG Americas Securities LLC increased its stake in i3 Verticals by 31.0% during the 4th quarter. SG Americas Securities LLC now owns 7,762 shares of the company’s stock worth $164,000 after buying an additional 1,836 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of i3 Verticals in the fourth quarter valued at approximately $203,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of i3 Verticals in the fourth quarter valued at approximately $366,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IIIV shares. TheStreet upgraded i3 Verticals from a “d+” rating to a “c-” rating in a research report on Monday, March 18th. BMO Capital Markets decreased their price target on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, May 13th. Benchmark restated a “buy” rating and set a $28.00 price target on shares of i3 Verticals in a research note on Monday, April 1st. Finally, KeyCorp upped their price target on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $27.57.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $19.66 on Wednesday. The firm has a market capitalization of $658.02 million, a PE ratio of 1,967.97 and a beta of 1.59. The business’s fifty day moving average price is $21.00 and its 200 day moving average price is $20.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. i3 Verticals, Inc. has a 12 month low of $17.54 and a 12 month high of $25.70.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $94.54 million for the quarter, compared to analysts’ expectations of $96.27 million. i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. On average, sell-side analysts anticipate that i3 Verticals, Inc. will post 0.91 earnings per share for the current fiscal year.

i3 Verticals 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.