i3 Verticals (NASDAQ:IIIV) Shares Gap Up After Analyst Upgrade

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) gapped up prior to trading on Thursday after Stephens raised their price target on the stock from $27.00 to $29.00. The stock had previously closed at $19.75, but opened at $23.49. Stephens currently has an overweight rating on the stock. i3 Verticals shares last traded at $22.76, with a volume of 91,645 shares traded.

A number of other research firms also recently weighed in on IIIV. TheStreet raised shares of i3 Verticals from a “d+” rating to a “c-” rating in a research note on Monday, March 18th. BMO Capital Markets reduced their price target on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, May 13th. KeyCorp lifted their price objective on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Benchmark reissued a “buy” rating and issued a $28.00 target price on shares of i3 Verticals in a research note on Monday, April 1st. Two 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. According to data from MarketBeat.com, i3 Verticals presently has an average rating of “Moderate Buy” and a consensus target price of $27.14.

Institutional Investors Weigh In On i3 Verticals

A number of hedge funds have recently modified their holdings of the business. Comerica Bank increased its stake in i3 Verticals by 46.0% during the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after purchasing an additional 672 shares in the last quarter. Kennedy Capital Management LLC increased its position in shares of i3 Verticals by 13.3% during the first quarter. Kennedy Capital Management LLC now owns 170,957 shares of the company’s stock worth $3,913,000 after acquiring an additional 20,088 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of i3 Verticals by 43.1% during the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after acquiring an additional 337,576 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of i3 Verticals during the first quarter worth $210,000. Finally, Pitcairn Co. lifted its position in i3 Verticals by 14.7% in the 1st quarter. Pitcairn Co. now owns 13,818 shares of the company’s stock valued at $316,000 after acquiring an additional 1,767 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Stock Performance

The stock’s 50 day moving average is $20.52 and its two-hundred day moving average is $20.94. The stock has a market capitalization of $739.02 million, a price-to-earnings ratio of 2,210.21 and a beta of 1.59. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Friday, May 10th. The company reported $0.16 earnings per share 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 analyst estimates of $96.27 million. i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. Analysts expect that i3 Verticals, Inc. will post 0.91 earnings per share for the current fiscal year.

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.