i3 Verticals, Inc. (NASDAQ:IIIV) Position Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 12.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,515 shares of the company’s stock after selling 927 shares during the quarter. PNC Financial Services Group Inc.’s holdings in i3 Verticals were worth $138,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IIIV. CIBC Private Wealth Group LLC grew its position in i3 Verticals by 147.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after purchasing an additional 146,222 shares during the last quarter. Cullen Investment Group LTD. acquired a new stake in i3 Verticals in the 4th quarter valued at approximately $1,878,000. Palogic Value Management L.P. raised its stake in i3 Verticals by 65.5% during the 4th quarter. Palogic Value Management L.P. now owns 120,000 shares of the company’s stock valued at $2,540,000 after acquiring an additional 47,500 shares in the last quarter. ABS Direct Equity Fund LLC acquired a new position in i3 Verticals during the 4th quarter worth $741,000. Finally, Ranger Investment Management L.P. lifted its holdings in i3 Verticals by 2.6% in the fourth quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock worth $22,186,000 after purchasing an additional 26,670 shares during the period. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Stock Down 0.9 %

IIIV stock opened at $22.25 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $744.71 million, a P/E ratio of 2,227.23 and a beta of 1.58. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $25.70. The company’s 50 day simple moving average is $20.45 and its 200-day simple moving average is $20.98.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results 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). The business had revenue of $94.54 million for the quarter, compared to analysts’ expectations of $96.27 million. i3 Verticals had a net margin of 0.63% and a return on equity of 8.91%. As a group, equities research analysts anticipate that i3 Verticals, Inc. will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

IIIV has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, May 13th. KeyCorp lifted their price target on i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. TheStreet upgraded i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. Stephens lifted their target price on i3 Verticals from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Benchmark reiterated a “buy” rating and issued a $28.00 price target on shares of i3 Verticals in a research report on Monday, April 1st. Two 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 stock. According to data from MarketBeat, i3 Verticals has a consensus rating of “Moderate Buy” and a consensus target price of $27.14.

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.