Geneva Capital Management LLC Trims Stock Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

Geneva Capital Management LLC reduced its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 1.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,785,160 shares of the company’s stock after selling 20,218 shares during the period. Geneva Capital Management LLC owned about 0.05% of i3 Verticals worth $41,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Long Path Partners LP lifted its position in shares of i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock valued at $19,884,000 after acquiring an additional 355,392 shares in the last quarter. Portolan Capital Management LLC increased its stake in i3 Verticals by 3.8% in the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock valued at $13,917,000 after purchasing an additional 23,921 shares during the last quarter. Raymond James Financial Inc. acquired a new position in i3 Verticals in the fourth quarter valued at $13,313,000. TimesSquare Capital Management LLC acquired a new position in i3 Verticals in the third quarter valued at $11,373,000. Finally, State Street Corp increased its stake in i3 Verticals by 0.5% in the third quarter. State Street Corp now owns 495,943 shares of the company’s stock valued at $10,569,000 after purchasing an additional 2,664 shares during the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV opened at $25.40 on Thursday. The firm has a market capitalization of $840.08 million, a PE ratio of 5.66 and a beta of 1.52. The business has a 50-day moving average of $25.47 and a two-hundred day moving average of $23.79. i3 Verticals, Inc. has a 12 month low of $18.75 and a 12 month high of $29.80.

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

Analyst Ratings Changes

Several research firms recently commented on IIIV. KeyCorp upped their target price on i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. DA Davidson upped their target price on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Benchmark reiterated a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. BMO Capital Markets upped their target price on i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, February 10th. Finally, Morgan Stanley upped their target price on i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, i3 Verticals has a consensus rating of “Moderate Buy” and an average target price of $29.86.

About i3 Verticals

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.