i3 Verticals, Inc. (NASDAQ:IIIV) Receives $27.14 Consensus PT from Analysts

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $27.14.

A number of research analysts have issued reports on the company. BMO Capital Markets reduced their price target on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, October 3rd. Benchmark reissued a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. KeyCorp reduced 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 note on Monday, August 12th. Raymond James lowered their price objective on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. Finally, DA Davidson reiterated a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research report on Monday, September 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IIIV. Sequoia Financial Advisors LLC acquired a new position in i3 Verticals in the 2nd quarter valued at approximately $600,000. Confluence Investment Management LLC raised its holdings in shares of i3 Verticals by 102.7% during the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after acquiring an additional 155,338 shares in the last quarter. Long Path Partners LP acquired a new stake in i3 Verticals during the second quarter valued at $12,756,000. Royce & Associates LP grew its stake in i3 Verticals by 11.1% in the third quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock valued at $10,417,000 after purchasing an additional 48,840 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in i3 Verticals in the 3rd quarter worth about $11,373,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Stock Performance

Shares of NASDAQ IIIV opened at $23.67 on Tuesday. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $26.00. The company has a market cap of $799.81 million, a PE ratio of 5.32 and a beta of 1.53. The stock has a 50 day simple moving average of $23.00 and a 200-day simple moving average of $21.99. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01.

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.