i3 Verticals (NASDAQ:IIIV) Price Target Raised to $26.00

i3 Verticals (NASDAQ:IIIV) had its price objective hoisted by KeyCorp from $23.00 to $26.00 in a research note released on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other research analysts also recently commented on the stock. TheStreet upgraded shares of i3 Verticals from a d+ rating to a c- rating in a research note on Monday, March 18th. Benchmark reiterated a buy rating and set a $28.00 price objective on shares of i3 Verticals in a research note on Monday, April 1st. Morgan Stanley reduced their price target on shares of i3 Verticals from $25.00 to $20.00 and set an equal weight rating on the stock in a research report on Monday, February 12th. Finally, BMO Capital Markets reduced their price target on shares of i3 Verticals from $24.00 to $23.00 and set a market perform rating on the stock in a research report on Monday, February 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, i3 Verticals currently has a consensus rating of Moderate Buy and an average price target of $27.43.

i3 Verticals Price Performance

IIIV opened at $23.46 on Monday. The company has a fifty day simple moving average of $22.26 and a 200 day simple moving average of $20.76. The firm has a market cap of $782.86 million, a price-to-earnings ratio of -335.14 and a beta of 1.57. i3 Verticals has a twelve month low of $17.54 and a twelve month high of $25.70. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.85.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. i3 Verticals had a net margin of 0.14% and a return on equity of 9.28%. The firm had revenue of $91.99 million for the quarter, compared to the consensus estimate of $92.92 million. Equities research analysts expect that i3 Verticals will post 0.95 EPS for the current fiscal year.

Institutional Trading of i3 Verticals

Several hedge funds have recently bought and sold shares of the company. Geneva Capital Management LLC lifted its position in i3 Verticals by 0.3% in the 4th quarter. Geneva Capital Management LLC now owns 1,887,826 shares of the company’s stock valued at $39,965,000 after purchasing an additional 5,519 shares during the last quarter. Vanguard Group Inc. lifted its position in i3 Verticals by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,262,579 shares of the company’s stock valued at $26,691,000 after purchasing an additional 9,705 shares during the last quarter. Ranger Investment Management L.P. lifted its position in i3 Verticals by 2.6% in the 4th quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock valued at $22,186,000 after purchasing an additional 26,670 shares during the last quarter. Voss Capital LLC lifted its position in i3 Verticals by 36.9% in the 3rd quarter. Voss Capital LLC now owns 937,083 shares of the company’s stock valued at $19,810,000 after purchasing an additional 252,439 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its position in i3 Verticals by 0.6% in the 4th quarter. Heartland Advisors Inc. now owns 540,750 shares of the company’s stock valued at $11,448,000 after purchasing an additional 3,440 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors.

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.