i3 Verticals (NASDAQ:IIIV) PT Raised to $29.00

i3 Verticals (NASDAQ:IIIV) had its target price hoisted by research analysts at Stephens from $27.00 to $29.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price points to a potential upside of 46.84% from the company’s previous close.

Several other equities analysts also recently issued reports on IIIV. TheStreet raised shares of i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. BMO Capital Markets reduced their price objective on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, May 13th. KeyCorp lifted their target price on i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $28.00 price target on shares of i3 Verticals in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

i3 Verticals Stock Performance

IIIV stock opened at $19.75 on Thursday. The stock’s 50 day simple moving average is $20.54 and its 200 day simple moving average is $20.91. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $25.70. The firm has a market cap of $661.03 million, a P/E ratio of 1,976.98 and a beta of 1.59. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Friday, May 10th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). i3 Verticals had a net margin of 0.63% and a return on equity of 8.91%. The business had revenue of $94.54 million for the quarter, compared to the consensus estimate of $96.27 million. As a group, equities research analysts predict that i3 Verticals will post 0.91 EPS for the current year.

Hedge Funds Weigh In On i3 Verticals

A number of hedge funds and other institutional investors have recently modified their holdings of IIIV. Geneva Capital Management LLC boosted its stake in i3 Verticals by 1.7% in the 1st quarter. Geneva Capital Management LLC now owns 1,919,097 shares of the company’s stock worth $43,928,000 after purchasing an additional 31,271 shares during the period. Vanguard Group Inc. lifted its stake in i3 Verticals by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,262,579 shares of the company’s stock worth $26,691,000 after acquiring an additional 9,705 shares in the last quarter. Hood River Capital Management LLC boosted its position in i3 Verticals by 43.1% during the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after acquiring an additional 337,576 shares during the period. Ranger Investment Management L.P. grew its stake in i3 Verticals by 2.6% during the 4th quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock valued at $22,186,000 after acquiring an additional 26,670 shares in the last quarter. Finally, Heartland Advisors Inc. increased its holdings in shares of i3 Verticals by 10.9% in the 1st quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock valued at $13,729,000 after purchasing an additional 59,050 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

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.