i3 Verticals (NASDAQ:IIIV) Announces Earnings Results, Misses Estimates By $0.06 EPS

i3 Verticals (NASDAQ:IIIV) posted its quarterly earnings data on Monday. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.06), Zacks reports. i3 Verticals had a net margin of 55.87% and a return on equity of 3.87%.

i3 Verticals Trading Up 0.6%

IIIV traded up $0.17 during trading on Monday, reaching $29.02. 268,393 shares of the company’s stock were exchanged, compared to its average volume of 264,681. i3 Verticals has a one year low of $22.20 and a one year high of $33.97. The firm has a fifty day moving average price of $31.28 and a two-hundred day moving average price of $28.93. The stock has a market capitalization of $936.19 million, a PE ratio of 5.56 and a beta of 1.23.

Insiders Place Their Bets

In related news, CRO Paul Christians sold 1,890 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $31.40, for a total value of $59,346.00. Following the sale, the executive owned 43,110 shares of the company’s stock, valued at $1,353,654. The trade was a 4.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Paul Maple sold 2,500 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $31.04, for a total value of $77,600.00. Following the completion of the sale, the general counsel owned 33,269 shares of the company’s stock, valued at $1,032,669.76. The trade was a 6.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 59.07% of the stock is currently owned by insiders.

Institutional Trading of i3 Verticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in i3 Verticals by 65.5% during the second quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company’s stock worth $60,000 after buying an additional 870 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in i3 Verticals by 229.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,220 shares of the company’s stock valued at $61,000 after buying an additional 1,547 shares during the period. Johnson Financial Group Inc. bought a new position in shares of i3 Verticals during the 3rd quarter worth approximately $79,000. AQR Capital Management LLC bought a new stake in i3 Verticals in the first quarter valued at $209,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of i3 Verticals by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,619 shares of the company’s stock valued at $237,000 after purchasing an additional 402 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of i3 Verticals in a research report on Wednesday, October 8th. Stephens boosted their price target on i3 Verticals from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, August 11th. Morgan Stanley upped their price objective on i3 Verticals from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. Zacks Research raised i3 Verticals from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Benchmark reissued a “buy” rating and issued a $39.00 target price (up previously from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.33.

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.