Stephens Raises i3 Verticals (NASDAQ:IIIV) Price Target to $29.00

i3 Verticals (NASDAQ:IIIV) had its price target raised by Stephens from $27.00 to $29.00 in a report issued on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the stock. TheStreet raised shares of i3 Verticals from a d+ rating to a c- rating in a research note on Monday, March 18th. KeyCorp lifted their price target on shares of i3 Verticals from $23.00 to $26.00 and gave the company an overweight rating in a research note on Monday, April 22nd. Benchmark reissued a buy rating and issued a $28.00 price objective on shares of i3 Verticals in a research note on Monday, April 1st. Finally, BMO Capital Markets decreased their target price on i3 Verticals from $25.00 to $24.00 and set a market perform rating for the company in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $27.14.

i3 Verticals Stock Down 0.3 %

Shares of NASDAQ IIIV opened at $22.08 on Thursday. i3 Verticals has a 1 year low of $17.54 and a 1 year high of $25.70. The firm has a 50-day simple moving average of $20.52 and a two-hundred day simple moving average of $20.94. The company has a market cap of $739.02 million, a P/E ratio of 2,210.21 and a beta of 1.59. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results on Friday, May 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $94.54 million for the quarter, compared to the consensus estimate of $96.27 million. i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. Research analysts anticipate that i3 Verticals will post 0.91 earnings per share for the current year.

Institutional Trading of i3 Verticals

A number of hedge funds have recently bought and sold shares of the stock. Geneva Capital Management LLC raised its position in shares of i3 Verticals by 1.7% in the 1st quarter. Geneva Capital Management LLC now owns 1,919,097 shares of the company’s stock worth $43,928,000 after acquiring an additional 31,271 shares in the last quarter. Vanguard Group Inc. raised its holdings in i3 Verticals by 0.8% in the third quarter. Vanguard Group Inc. now owns 1,262,579 shares of the company’s stock worth $26,691,000 after purchasing an additional 9,705 shares in the last quarter. Hood River Capital Management LLC raised its holdings in i3 Verticals by 43.1% in the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after purchasing an additional 337,576 shares in the last quarter. Ranger Investment Management L.P. lifted its position in shares of i3 Verticals by 2.6% during the fourth quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock valued at $22,186,000 after buying an additional 26,670 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its holdings in shares of i3 Verticals by 10.9% in the 1st quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock valued at $13,729,000 after buying an additional 59,050 shares in the last quarter. Hedge funds and other institutional investors own 84.22% 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.