Victory Capital Management Inc. Purchases 1,950 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Victory Capital Management Inc. boosted its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,700 shares of the company’s stock after buying an additional 1,950 shares during the quarter. Victory Capital Management Inc.’s holdings in i3 Verticals were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. YHB Investment Advisors Inc. bought a new stake in shares of i3 Verticals in the 1st quarter worth approximately $25,000. Cape Investment Advisory Inc. purchased a new position in i3 Verticals in the 4th quarter worth $30,000. Comerica Bank lifted its stake 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 purchasing an additional 672 shares during the last quarter. SG Americas Securities LLC purchased a new stake in i3 Verticals during the second quarter valued at about $116,000. Finally, Argent Capital Management LLC bought a new position in shares of i3 Verticals during the first quarter valued at about $200,000. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $21.99 on Friday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.01. The firm’s fifty day simple moving average is $22.63 and its 200 day simple moving average is $21.83. The stock has a market cap of $736.05 million, a P/E ratio of 2,254.00 and a beta of 1.55. i3 Verticals, Inc. has a twelve month low of $17.54 and a twelve month high of $25.51.

i3 Verticals (NASDAQ:IIIV) last announced its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). i3 Verticals had a negative net margin of 0.01% and a positive return on equity of 5.99%. The company had revenue of $56.04 million for the quarter, compared to the consensus estimate of $96.43 million. As a group, research analysts predict that i3 Verticals, Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research note on Tuesday, September 3rd. KeyCorp dropped their price target on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Stephens restated an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a research report on Friday, August 16th. Finally, Raymond James dropped their target price on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, i3 Verticals currently has an average rating of “Moderate Buy” and a consensus target price of $26.83.

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.