i3 Verticals (NASDAQ:IIIV) Upgraded at ValuEngine

ValuEngine upgraded shares of i3 Verticals (NASDAQ:IIIV) from a hold rating to a buy rating in a research report report published on Tuesday, ValuEngine reports.

IIIV has been the topic of several other reports. Zacks Investment Research raised shares of i3 Verticals from a sell rating to a hold rating in a research note on Saturday, August 31st. Bank of America initiated coverage on shares of i3 Verticals in a research note on Tuesday, August 13th. They set a neutral rating and a $23.00 price objective on the stock. KeyCorp upped their price objective on shares of i3 Verticals from $26.00 to $28.00 and gave the stock an overweight rating in a research note on Monday, August 12th. Finally, BTIG Research set a $31.00 price objective on shares of i3 Verticals and gave the stock a buy rating in a research note on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $26.33.

NASDAQ IIIV opened at $20.63 on Tuesday. The stock has a market cap of $563.35 million, a P/E ratio of 38.87, a PEG ratio of 1.12 and a beta of 0.40. The company’s 50-day simple moving average is $22.93 and its 200 day simple moving average is $24.60. i3 Verticals has a twelve month low of $17.14 and a twelve month high of $31.44. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.98.

i3 Verticals (NASDAQ:IIIV) last posted its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.02 million. i3 Verticals had a negative net margin of 0.36% and a positive return on equity of 14.53%. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Research analysts anticipate that i3 Verticals will post 0.69 earnings per share for the current year.

In other news, Director David K. Morgan acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $21.35 per share, with a total value of $42,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 56.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of IIIV. TimesSquare Capital Management LLC acquired a new position in shares of i3 Verticals during the second quarter worth approximately $33,773,000. Royal Bank of Canada acquired a new position in shares of i3 Verticals during the second quarter worth approximately $9,841,000. Polar Asset Management Partners Inc. acquired a new position in shares of i3 Verticals during the second quarter worth approximately $8,678,000. Vanguard Group Inc. lifted its position in shares of i3 Verticals by 56.9% during the second quarter. Vanguard Group Inc. now owns 619,909 shares of the company’s stock worth $18,256,000 after purchasing an additional 224,833 shares in the last quarter. Finally, Southside Capital LLC acquired a new position in shares of i3 Verticals during the second quarter worth approximately $5,036,000. 44.51% of the stock is currently owned by hedge funds and other institutional investors.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.

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Analyst Recommendations for i3 Verticals (NASDAQ:IIIV)

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