Legato Capital Management LLC Purchases New Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Legato Capital Management LLC acquired a new position in i3 Verticals, Inc. (NASDAQ:IIIV) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 183,724 shares of the company’s stock, valued at approximately $4,233,000. i3 Verticals accounts for 0.6% of Legato Capital Management LLC’s holdings, making the stock its 20th largest holding. Legato Capital Management LLC owned 0.55% of i3 Verticals at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Long Path Partners LP raised its position in shares of i3 Verticals by 61.5% in the 3rd quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after acquiring an additional 355,392 shares in the last quarter. Portolan Capital Management LLC lifted its position in i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock valued at $13,917,000 after buying an additional 23,921 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of i3 Verticals during the 3rd quarter valued at $11,373,000. State Street Corp grew its position in shares of i3 Verticals by 0.5% in the 3rd quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after buying an additional 2,664 shares during the period. Finally, Royce & Associates LP increased its stake in shares of i3 Verticals by 11.1% in the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock worth $10,417,000 after acquiring an additional 48,840 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the sale, the president now owns 100,000 shares of the company’s stock, valued at $2,528,000. This represents a 14.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 59.07% of the company’s stock.

i3 Verticals Trading Up 1.5 %

Shares of IIIV stock opened at $29.67 on Wednesday. i3 Verticals, Inc. has a 12-month low of $18.21 and a 12-month high of $29.80. The stock has a market capitalization of $995.13 million, a P/E ratio of 6.61 and a beta of 1.51. The firm’s 50 day moving average is $24.16 and its 200 day moving average is $23.32.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. As a group, equities analysts predict that i3 Verticals, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IIIV has been the subject of several recent research reports. KeyCorp lifted their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Monday. Stephens reissued an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. DA Davidson raised their price target on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley upped their price target on shares of i3 Verticals from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Two equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.86.

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.