Benchmark Reiterates “Buy” Rating for i3 Verticals (NASDAQ:IIIV)

Benchmark reaffirmed their buy rating on shares of i3 Verticals (NASDAQ:IIIV) in a research note released on Tuesday morning,Benzinga reports. Benchmark currently has a $33.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. KeyCorp cut 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. Stephens reiterated an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a report on Friday, August 16th. BMO Capital Markets decreased their price objective on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, October 3rd. Raymond James cut their target price on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. Finally, DA Davidson reissued a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

i3 Verticals Stock Down 3.0 %

NASDAQ IIIV opened at $23.38 on Tuesday. i3 Verticals has a 1 year low of $17.54 and a 1 year high of $26.00. The stock has a market capitalization of $790.01 million, a PE ratio of 5.25 and a beta of 1.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. The business’s 50-day moving average is $22.97 and its 200 day moving average is $21.98.

Institutional Investors Weigh In On i3 Verticals

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

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.