i3 Verticals (NASDAQ:IIIV) Price Target Raised to $26.00 at BMO Capital Markets

i3 Verticals (NASDAQ:IIIV) had its price objective hoisted by analysts at BMO Capital Markets from $22.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential downside of 9.44% from the company’s current price.

Other analysts have also recently issued reports about the stock. KeyCorp increased their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday. Benchmark reiterated a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Finally, Stephens reaffirmed an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.57.

i3 Verticals Stock Up 1.7 %

Shares of IIIV opened at $28.71 on Monday. i3 Verticals has a twelve month low of $18.21 and a twelve month high of $28.97. The firm has a 50 day moving average of $23.98 and a 200 day moving average of $23.25. The company has a market capitalization of $962.93 million, a P/E ratio of 6.39 and a beta of 1.51.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. On average, sell-side analysts expect that i3 Verticals will post 0.9 EPS for the current year.

Insider Buying and Selling at i3 Verticals

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction of $444,346.56. Following the sale, the president now directly owns 100,000 shares in the company, valued at $2,528,000. This represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 59.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently modified their holdings of IIIV. Quantbot Technologies LP bought a new stake in i3 Verticals in the third quarter worth $109,000. AlphaQuest LLC increased its position in i3 Verticals by 688,600.0% during the fourth quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock valued at $159,000 after acquiring an additional 6,886 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of i3 Verticals by 62.4% in the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company’s stock valued at $199,000 after acquiring an additional 3,323 shares during the period. Atom Investors LP bought a new stake in shares of i3 Verticals in the 3rd quarter worth about $218,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of i3 Verticals during the 2nd quarter worth about $292,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Company Profile

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.