Geneva Capital Management LLC Has $38.47 Million Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Geneva Capital Management LLC cut its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 4.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,805,378 shares of the company’s stock after selling 85,313 shares during the quarter. Geneva Capital Management LLC owned 5.34% of i3 Verticals worth $38,473,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new stake in shares of i3 Verticals in the 2nd quarter valued at approximately $600,000. Confluence Investment Management LLC lifted its stake in i3 Verticals by 102.7% in the 2nd quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after acquiring an additional 155,338 shares in the last quarter. Long Path Partners LP acquired a new stake in i3 Verticals during the 2nd quarter worth about $12,756,000. Mason Capital Management LLC purchased a new stake in shares of i3 Verticals during the 2nd quarter worth about $7,443,000. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of i3 Verticals in the third quarter worth about $11,373,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on IIIV. Benchmark restated a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, September 3rd. 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 research note on Thursday, October 3rd. KeyCorp cut their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Stephens reiterated an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a research report on Friday, August 16th. Finally, DA Davidson reiterated a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. Two equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.14.

i3 Verticals Stock Down 0.5 %

Shares of NASDAQ IIIV opened at $25.78 on Wednesday. The company’s 50 day simple moving average is $22.57 and its 200 day simple moving average is $21.89. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. i3 Verticals, Inc. has a fifty-two week low of $17.54 and a fifty-two week high of $25.96.

i3 Verticals 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.