EverSource Wealth Advisors LLC Reduces Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

EverSource Wealth Advisors LLC cut its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,111 shares of the company’s stock after selling 9,565 shares during the quarter. EverSource Wealth Advisors LLC owned about 0.55% of i3 Verticals worth $4,242,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IIIV. Quantbot Technologies LP acquired a new stake in i3 Verticals during the third quarter worth about $109,000. AlphaQuest LLC raised its position in shares of i3 Verticals by 688,600.0% during the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock valued at $159,000 after buying an additional 6,886 shares during the period. SG Americas Securities LLC lifted its holdings in i3 Verticals by 62.4% in the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company’s stock valued at $199,000 after acquiring an additional 3,323 shares during the last quarter. Atom Investors LP purchased a new position in i3 Verticals in the third quarter worth approximately $218,000. Finally, Bares Capital Management Inc. acquired a new stake in i3 Verticals during the third quarter worth $334,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IIIV shares. DA Davidson increased their price target on i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, February 10th. KeyCorp increased their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Stephens reissued an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. BMO Capital Markets upped their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, February 10th. Finally, Benchmark reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.86.

i3 Verticals Stock Down 1.9 %

i3 Verticals stock opened at $23.62 on Wednesday. i3 Verticals, Inc. has a 52-week low of $18.75 and a 52-week high of $29.80. The firm has a market cap of $781.21 million, a PE ratio of 5.26 and a beta of 1.52. The company’s 50 day moving average is $25.53 and its two-hundred day moving average is $23.89.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. On average, equities research analysts anticipate that i3 Verticals, Inc. will post 0.9 earnings per share for the current fiscal year.

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.