i3 Verticals, Inc. (NASDAQ:IIIV) Receives Average Rating of “Moderate Buy” from Brokerages

i3 Verticals, Inc. (NASDAQ:IIIV) has earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $27.14.

Several research firms recently issued reports on IIIV. Raymond James dropped their price objective on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, August 12th. DA Davidson reissued a “buy” rating and set a $32.00 price objective on shares of i3 Verticals in a report on Monday, September 30th. KeyCorp lowered their target price on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Benchmark reiterated a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets decreased their price target on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, October 3rd.

i3 Verticals Stock Down 1.7 %

Shares of NASDAQ:IIIV opened at $24.40 on Tuesday. The firm has a fifty day moving average price of $22.85 and a two-hundred day moving average price of $21.95. The company has a market cap of $824.45 million, a price-to-earnings ratio of -271.11 and a beta of 1.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. i3 Verticals has a one year low of $17.54 and a one year high of $26.00.

Institutional Investors Weigh In On i3 Verticals

A number of hedge funds have recently made changes to their positions in IIIV. Sequoia Financial Advisors LLC purchased a new position in i3 Verticals in the 2nd quarter worth $600,000. Confluence Investment Management LLC increased its holdings in shares of i3 Verticals by 102.7% in the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after buying an additional 155,338 shares during the period. Long Path Partners LP bought a new stake in shares of i3 Verticals in the 2nd quarter valued at about $12,756,000. TimesSquare Capital Management LLC purchased a new stake in i3 Verticals during the 3rd quarter valued at about $11,373,000. Finally, Mason Capital Management LLC bought a new position in i3 Verticals during the 2nd quarter worth approximately $7,443,000. 84.22% of the stock is currently owned by institutional investors.

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.