i3 Verticals, Inc. (NASDAQ:IIIV) Receives Average Recommendation of “Moderate Buy” from Analysts

i3 Verticals, Inc. (NASDAQ:IIIV) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $27.14.

Several equities analysts have commented on IIIV shares. Benchmark reissued a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, September 3rd. DA Davidson reissued a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. BMO Capital Markets reduced their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, October 3rd. Raymond James cut their price target on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, August 12th. Finally, Stephens restated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a report on Friday, August 16th.

Hedge Funds Weigh In On i3 Verticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bares Capital Management Inc. purchased a new stake in shares of i3 Verticals during the 3rd quarter valued at approximately $334,000. ABS Direct Equity Fund LLC boosted its holdings in shares of i3 Verticals by 40.0% in the third quarter. ABS Direct Equity Fund LLC now owns 35,000 shares of the company’s stock worth $746,000 after acquiring an additional 10,000 shares during the period. Barclays PLC grew its position in shares of i3 Verticals by 112.3% in the third quarter. Barclays PLC now owns 41,036 shares of the company’s stock valued at $873,000 after purchasing an additional 21,709 shares in the last quarter. State Street Corp raised its stake in shares of i3 Verticals by 0.5% during the 3rd 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 period. Finally, Portolan Capital Management LLC lifted its holdings in 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 purchasing an additional 23,921 shares in the last quarter. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Stock Performance

NASDAQ IIIV opened at $24.40 on Tuesday. The company has a fifty day moving average price of $22.85 and a 200-day moving average price of $21.95. The firm has a market cap of $824.45 million, a price-to-earnings ratio of -271.11 and a beta of 1.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. i3 Verticals has a 1 year low of $17.54 and a 1 year high of $26.00.

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.