Equitable Trust Co. Purchases Shares of 32,386 i3 Verticals, Inc. (NASDAQ:IIIV)

Equitable Trust Co. bought a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,386 shares of the company’s stock, valued at approximately $746,000. Equitable Trust Co. owned approximately 0.10% of i3 Verticals as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IIIV. TimesSquare Capital Management LLC purchased a new stake in shares of i3 Verticals during the 3rd quarter worth about $11,373,000. Long Path Partners LP boosted its stake in shares of i3 Verticals by 61.5% during the 3rd quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after acquiring an additional 355,392 shares in the last quarter. Royce & Associates LP boosted its stake in shares of i3 Verticals by 11.1% during the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock worth $10,417,000 after acquiring an additional 48,840 shares in the last quarter. Portolan Capital Management LLC boosted its stake in shares of i3 Verticals by 3.8% during the 3rd quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after acquiring an additional 23,921 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of i3 Verticals by 112.3% during the 3rd quarter. Barclays PLC now owns 41,036 shares of the company’s stock worth $873,000 after acquiring an additional 21,709 shares in the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. KeyCorp upped their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday. Stephens restated an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. DA Davidson upped their price target on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday. Finally, BMO Capital Markets upped their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, i3 Verticals currently has a consensus rating of “Moderate Buy” and an average target price of $28.86.

i3 Verticals Trading Up 3.5 %

IIIV stock opened at $29.22 on Tuesday. The company has a market cap of $980.04 million, a price-to-earnings ratio of 6.51 and a beta of 1.51. i3 Verticals, Inc. has a 12 month low of $18.21 and a 12 month high of $29.80. The firm has a 50-day moving average of $24.06 and a two-hundred day moving average of $23.29.

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

Insider Transactions at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the sale, the president now owns 100,000 shares in the company, valued at $2,528,000. This trade represents a 14.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 59.07% of the company’s stock.

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.