AlphaQuest LLC Increases Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

AlphaQuest LLC lifted its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 688,600.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,887 shares of the company’s stock after purchasing an additional 6,886 shares during the period. AlphaQuest LLC’s holdings in i3 Verticals were worth $159,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in i3 Verticals during the fourth quarter worth $13,313,000. Victory Capital Management Inc. lifted its holdings in i3 Verticals by 49.8% during the fourth quarter. Victory Capital Management Inc. now owns 72,652 shares of the company’s stock worth $1,674,000 after buying an additional 24,152 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in i3 Verticals by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company’s stock worth $1,529,000 after buying an additional 1,404 shares during the period. New York State Common Retirement Fund lifted its holdings in i3 Verticals by 1,855.9% during the fourth quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock worth $4,051,000 after buying an additional 166,843 shares during the period. Finally, Legato Capital Management LLC purchased a new stake in i3 Verticals during the fourth quarter worth $4,233,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

NASDAQ IIIV opened at $24.01 on Tuesday. The stock’s fifty day moving average price is $25.54 and its 200 day moving average price is $23.93. i3 Verticals, Inc. has a 1 year low of $18.75 and a 1 year high of $29.80. The company has a market cap of $794.11 million, a price-to-earnings ratio of 5.35 and a beta of 1.52.

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. DA Davidson upped their target price on i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Stephens restated an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. KeyCorp upped their target price on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. BMO Capital Markets upped their price target on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th. Finally, Morgan Stanley upped their price target on i3 Verticals from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.86.

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.