BMO Capital Markets Cuts i3 Verticals (NASDAQ:IIIV) Price Target to $21.00

i3 Verticals (NASDAQ:IIIV) had its price target lowered by research analysts at BMO Capital Markets from $23.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential downside of 0.71% from the company’s current price.

Several other brokerages have also weighed in on IIIV. Raymond James lowered their price objective on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. KeyCorp decreased their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Benchmark restated a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, September 3rd. Stephens reiterated an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research report on Friday, August 16th. Finally, DA Davidson reiterated a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.14.

i3 Verticals Price Performance

Shares of i3 Verticals stock opened at $21.15 on Thursday. The business has a 50 day simple moving average of $22.23 and a two-hundred day simple moving average of $21.77. i3 Verticals has a 12 month low of $17.54 and a 12 month high of $25.51. The stock has a market capitalization of $707.93 million, a P/E ratio of 2,115.00 and a beta of 1.54. 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 (NASDAQ:IIIV) last announced its earnings results on Thursday, August 8th. The company reported ($0.12) EPS 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 firm had revenue of $56.04 million for the quarter, compared to analyst estimates of $96.43 million. As a group, analysts predict that i3 Verticals will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IIIV. Campbell & CO Investment Adviser LLC boosted its holdings in shares of i3 Verticals by 57.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 25,519 shares of the company’s stock valued at $540,000 after acquiring an additional 9,317 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in i3 Verticals by 147.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after buying an additional 146,222 shares in the last quarter. Ranger Investment Management L.P. boosted its holdings in i3 Verticals by 2.6% during the fourth quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock worth $22,186,000 after buying an additional 26,670 shares in the last quarter. Palogic Value Management L.P. boosted its holdings in i3 Verticals by 65.5% during the fourth quarter. Palogic Value Management L.P. now owns 120,000 shares of the company’s stock worth $2,540,000 after buying an additional 47,500 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new stake in i3 Verticals during the first quarter worth approximately $3,461,000. 84.22% of the stock is currently owned by institutional investors.

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.