Stephens Reiterates “Overweight” Rating for i3 Verticals (NASDAQ:IIIV)

i3 Verticals (NASDAQ:IIIV)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a research note issued on Tuesday,Benzinga reports. They presently have a $29.00 price target on the stock. Stephens’ price objective would suggest a potential upside of 18.71% from the stock’s current price.

IIIV has been the topic of several other reports. KeyCorp reduced their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Raymond James lowered their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. Benchmark reaffirmed a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research note on Tuesday. DA Davidson reissued a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. Finally, BMO Capital Markets reduced their price target on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, October 3rd. Two investment 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.com, i3 Verticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

i3 Verticals Stock Performance

i3 Verticals stock traded up $0.03 during mid-day trading on Tuesday, reaching $24.43. 12,764 shares of the company were exchanged, compared to its average volume of 220,716. The firm has a market cap of $825.49 million, a PE ratio of -271.44 and a beta of 1.53. i3 Verticals has a twelve month low of $17.54 and a twelve month high of $26.00. The firm’s 50-day simple moving average is $22.85 and its two-hundred day simple moving average is $21.95. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98.

Institutional Trading of i3 Verticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank grew its stake in i3 Verticals by 46.0% during the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after purchasing an additional 672 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of i3 Verticals during the third quarter worth approximately $109,000. SG Americas Securities LLC bought a new stake in shares of i3 Verticals in the second quarter worth $116,000. Atom Investors LP bought a new stake in shares of i3 Verticals in the third quarter worth $218,000. Finally, Sanctuary Advisors LLC bought a new position in i3 Verticals during the 2nd quarter valued at $292,000. 84.22% of the stock is owned by hedge funds and other 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.