i3 Verticals (NASDAQ:IIIV) Shares Gap Down to $22.17

i3 Verticals, Inc. (NASDAQ:IIIV) gapped down prior to trading on Friday . The stock had previously closed at $22.17, but opened at $21.00. i3 Verticals shares last traded at $19.44, with a volume of 185,816 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IIIV. Morgan Stanley lowered their target price on shares of i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. TheStreet raised i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. BMO Capital Markets reduced their target price on i3 Verticals from $24.00 to $23.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. KeyCorp raised their price target on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $28.00 price objective on shares of i3 Verticals in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.43.

i3 Verticals Stock Performance

The stock has a market cap of $669.07 million, a price-to-earnings ratio of -286.43 and a beta of 1.56. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.85. The company has a 50 day simple moving average of $22.47 and a 200 day simple moving average of $20.96.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. i3 Verticals had a net margin of 0.14% and a return on equity of 9.28%. The company had revenue of $91.99 million for the quarter, compared to analyst estimates of $92.92 million. As a group, equities research analysts forecast that i3 Verticals, Inc. will post 0.93 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IIIV. YHB Investment Advisors Inc. bought a new stake in i3 Verticals during the 1st quarter worth $25,000. Cape Investment Advisory Inc. bought a new stake in i3 Verticals during the 4th quarter worth $30,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in i3 Verticals by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company’s stock worth $106,000 after acquiring an additional 1,345 shares during the last quarter. SG Americas Securities LLC bought a new stake in i3 Verticals during the 3rd quarter worth $125,000. Finally, Argent Capital Management LLC bought a new stake in i3 Verticals during the 1st quarter worth $200,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

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.