i3 Verticals (NASDAQ:IIIV) Price Target Raised to $32.00

i3 Verticals (NASDAQ:IIIV) had its target price lifted by KeyCorp from $27.00 to $32.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on the stock. Benchmark reiterated a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Stephens reaffirmed an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, i3 Verticals currently has an average rating of “Moderate Buy” and a consensus price target of $28.86.

i3 Verticals Stock Up 3.5 %

NASDAQ IIIV opened at $29.22 on Monday. The firm has a market capitalization of $980.04 million, a PE ratio of 6.51 and a beta of 1.51. The stock’s 50 day moving average is $24.06 and its 200 day moving average is $23.29. i3 Verticals has a twelve month low of $18.21 and a twelve month high of $29.80.

i3 Verticals (NASDAQ:IIIV) last released its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. On average, research analysts anticipate that i3 Verticals will post 0.9 earnings per share for the current year.

Insider Activity at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction of $444,346.56. Following the sale, the president now directly owns 100,000 shares of the company’s stock, valued at $2,528,000. This trade represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 59.07% of the stock is owned by insiders.

Hedge Funds Weigh In On i3 Verticals

A number of hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of i3 Verticals in the fourth quarter worth approximately $13,313,000. TimesSquare Capital Management LLC purchased a new stake in i3 Verticals in the third quarter worth approximately $11,373,000. Long Path Partners LP boosted its holdings in i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after purchasing an additional 355,392 shares during the last quarter. Legato Capital Management LLC bought a new stake in i3 Verticals in the 4th quarter worth approximately $4,233,000. Finally, New York State Common Retirement Fund raised its stake in i3 Verticals by 1,855.9% during the 4th quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock valued at $4,051,000 after buying an additional 166,843 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

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.