Comerica Bank Grows Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Comerica Bank boosted its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 46.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,133 shares of the company’s stock after purchasing an additional 672 shares during the quarter. Comerica Bank’s holdings in i3 Verticals were worth $49,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Hood River Capital Management LLC raised its stake in shares of i3 Verticals by 43.1% in the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock valued at $25,635,000 after acquiring an additional 337,576 shares during the period. Confluence Investment Management LLC acquired a new position in i3 Verticals during the 1st quarter worth approximately $3,461,000. CIBC Private Wealth Group LLC boosted its holdings 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 acquiring an additional 146,222 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of i3 Verticals in the first quarter valued at $1,487,000. Finally, Heartland Advisors Inc. grew its stake in shares of i3 Verticals by 10.9% during the first quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock valued at $13,729,000 after acquiring an additional 59,050 shares in the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on IIIV shares. KeyCorp decreased their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Raymond James reduced their price target on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 12th. 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. Benchmark restated a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a research report on Friday. Finally, Stephens restated an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a research report on Friday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.83.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV opened at $21.37 on Tuesday. The firm has a market cap of $715.30 million, a price-to-earnings ratio of 2,137.00 and a beta of 1.58. i3 Verticals, Inc. has a 1 year low of $17.54 and a 1 year high of $25.51. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $22.17 and a 200 day simple moving average of $21.60.

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.