New York State Common Retirement Fund Raises Stock Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

New York State Common Retirement Fund raised its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 1,855.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,833 shares of the company’s stock after purchasing an additional 166,843 shares during the quarter. New York State Common Retirement Fund’s holdings in i3 Verticals were worth $4,051,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Royce & Associates LP grew its position in shares of i3 Verticals by 11.1% in the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock worth $10,417,000 after buying an additional 48,840 shares during the period. Barclays PLC boosted its stake in i3 Verticals by 112.3% in the 3rd quarter. Barclays PLC now owns 41,036 shares of the company’s stock worth $873,000 after purchasing an additional 21,709 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in i3 Verticals in the 3rd quarter worth about $11,373,000. State Street Corp boosted its stake in i3 Verticals by 0.5% in the 3rd quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after purchasing an additional 2,664 shares in the last quarter. Finally, Long Path Partners LP boosted its stake in i3 Verticals by 61.5% in the 3rd quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after purchasing an additional 355,392 shares in the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. KeyCorp upped their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Stephens reiterated an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. Morgan Stanley upped their target price on shares of i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, DA Davidson upped their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, i3 Verticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

i3 Verticals Price Performance

Shares of IIIV opened at $25.93 on Friday. i3 Verticals, Inc. has a 1 year low of $18.75 and a 1 year high of $29.80. The company has a 50 day simple moving average of $25.35 and a two-hundred day simple moving average of $23.69. The firm has a market cap of $857.61 million, a P/E ratio of 5.78 and a beta of 1.51.

i3 Verticals (NASDAQ:IIIV) last posted its earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. On average, sell-side analysts anticipate that i3 Verticals, Inc. will post 0.9 earnings per share for the current year.

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.