i3 Verticals (NASDAQ:IIIV) Now Covered by Stephens

Stephens began coverage on shares of i3 Verticals (NASDAQ:IIIV) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $23.00 target price on the stock.

Several other research analysts also recently issued reports on the stock. KeyCorp lowered their price target on shares of i3 Verticals from $27.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Benchmark downgraded shares of i3 Verticals from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. DA Davidson lowered their price objective on i3 Verticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded i3 Verticals from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

i3 Verticals Price Performance

i3 Verticals stock opened at $18.91 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.21 and a current ratio of 1.21. i3 Verticals has a 52 week low of $13.63 and a 52 week high of $29.69. The stock has a market capitalization of $497.71 million, a P/E ratio of 49.76 and a beta of 0.79. The stock has a fifty day moving average of $16.38 and a 200-day moving average of $19.63.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IIIV. North Reef Capital Management LP increased its holdings in i3 Verticals by 1,253.8% during the 1st quarter. North Reef Capital Management LP now owns 1,025,000 shares of the company’s stock worth $22,919,000 after purchasing an additional 949,289 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of i3 Verticals by 993.3% in the third quarter. Marshall Wace LLP now owns 532,560 shares of the company’s stock valued at $7,360,000 after purchasing an additional 483,847 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of i3 Verticals by 32.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,032,606 shares of the company’s stock valued at $23,089,000 after purchasing an additional 255,079 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of i3 Verticals during the second quarter valued at approximately $4,798,000. Finally, Confluence Investment Management LLC boosted its position in shares of i3 Verticals by 91.6% during the second quarter. Confluence Investment Management LLC now owns 230,530 shares of the company’s stock valued at $4,924,000 after buying an additional 110,216 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

About i3 Verticals

i3 Verticals is a software company that develops technology for specialized markets, with a focus on public-sector organizations. Its products support functions such as utility billing, court and government operations, and payment collection. The company has also served customers in education and other markets, offering software designed to manage sector-specific administrative and operational needs. Its solutions can include integrated payment capabilities that help organizations process transactions through their software systems.