i3 Verticals, Inc. (NASDAQ:IIIV) Shares Acquired by Royce & Associates LP

Royce & Associates LP increased its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 488,840 shares of the company’s stock after purchasing an additional 48,840 shares during the period. Royce & Associates LP’s holdings in i3 Verticals were worth $10,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Comerica Bank lifted its position in shares of i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after acquiring an additional 672 shares in the last quarter. SG Americas Securities LLC purchased a new stake in i3 Verticals during the 2nd quarter valued at about $116,000. EntryPoint Capital LLC acquired a new stake in i3 Verticals in the 1st quarter valued at about $210,000. Sanctuary Advisors LLC purchased a new position in i3 Verticals in the 2nd quarter worth approximately $292,000. Finally, Argent Capital Management LLC lifted its stake in i3 Verticals by 60.7% in the 2nd quarter. Argent Capital Management LLC now owns 14,066 shares of the company’s stock worth $311,000 after purchasing an additional 5,311 shares in the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IIIV has been the subject of a number of analyst reports. Raymond James dropped their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. Stephens reaffirmed an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a research note on Friday, August 16th. DA Davidson reiterated a “buy” rating and set a $32.00 price target on shares of i3 Verticals in a report on Monday, September 30th. BMO Capital Markets dropped their price objective on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, October 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.14.

i3 Verticals Stock Performance

NASDAQ IIIV opened at $24.82 on Friday. The stock has a fifty day simple moving average of $22.79 and a 200-day simple moving average of $21.94. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. The stock has a market cap of $838.67 million, a PE ratio of -275.78 and a beta of 1.53. i3 Verticals, Inc. has a twelve month low of $17.54 and a twelve month high of $26.00.

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.