Dana Investment Advisors Inc. Buys 12,146 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Dana Investment Advisors Inc. grew its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 22.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 67,361 shares of the company’s stock after acquiring an additional 12,146 shares during the period. Dana Investment Advisors Inc. owned 0.20% of i3 Verticals worth $1,487,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. Conestoga Capital Advisors LLC raised its stake in shares of i3 Verticals by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 70,222 shares of the company’s stock valued at $1,607,000 after acquiring an additional 640 shares during the last quarter. Comerica Bank boosted its position in shares of i3 Verticals by 46.0% during the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after purchasing an additional 672 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in i3 Verticals during the first quarter worth approximately $25,000. Select Equity Group L.P. increased its holdings in i3 Verticals by 1.8% in the second quarter. Select Equity Group L.P. now owns 65,730 shares of the company’s stock worth $1,451,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Pitcairn Co. increased its holdings in i3 Verticals by 14.7% in the first quarter. Pitcairn Co. now owns 13,818 shares of the company’s stock worth $316,000 after purchasing an additional 1,767 shares in the last quarter. Institutional investors own 84.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on IIIV. Benchmark reaffirmed a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, September 3rd. Raymond James reduced their price target 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. BMO Capital Markets dropped their price target on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday. KeyCorp reduced their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Finally, DA Davidson reaffirmed a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.14.

i3 Verticals Stock Up 0.7 %

Shares of NASDAQ:IIIV opened at $21.29 on Friday. The business’s 50 day moving average is $22.23 and its 200 day moving average is $21.77. i3 Verticals, Inc. has a 12-month low of $17.54 and a 12-month high of $25.51. The stock has a market cap of $712.62 million, a price-to-earnings ratio of 2,129.00 and a beta of 1.54. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.01.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). The firm had revenue of $56.04 million for the quarter, compared to analysts’ expectations of $96.43 million. i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. On average, sell-side analysts forecast that i3 Verticals, Inc. will post 0.19 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.