i3 Verticals (NASDAQ:IIIV) Price Target Raised to $34.00

i3 Verticals (NASDAQ:IIIV) had its target price lifted by DA Davidson from $32.00 to $34.00 in a research report sent to investors on Monday,Benzinga reports. DA Davidson currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. BMO Capital Markets increased their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday. KeyCorp increased their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday. Stephens reiterated an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. Finally, Benchmark restated a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.86.

i3 Verticals Stock Performance

Shares of IIIV opened at $28.93 on Monday. i3 Verticals has a fifty-two week low of $18.52 and a fifty-two week high of $29.80. The company has a market capitalization of $970.31 million, a PE ratio of 6.44 and a beta of 1.51. The stock has a fifty day moving average of $24.25 and a two-hundred day moving average of $23.36.

i3 Verticals (NASDAQ:IIIV) last released its earnings results 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 net margin of 41.85% and a return on equity of 3.59%. As a group, equities research analysts forecast that i3 Verticals will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction on 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 directly owns 100,000 shares of the company’s stock, valued at approximately $2,528,000. This represents a 14.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 59.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Pitcairn Co. boosted its position in shares of i3 Verticals by 4.0% in the fourth quarter. Pitcairn Co. now owns 17,183 shares of the company’s stock worth $396,000 after buying an additional 657 shares during the period. ExodusPoint Capital Management LP purchased a new position in i3 Verticals in the 4th quarter worth approximately $884,000. Long Path Partners LP boosted its holdings in i3 Verticals by 5.0% in the 4th quarter. Long Path Partners LP now owns 979,777 shares of the company’s stock worth $22,574,000 after acquiring an additional 46,679 shares during the period. Geode Capital Management LLC raised its stake in shares of i3 Verticals by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 538,057 shares of the company’s stock valued at $12,400,000 after purchasing an additional 3,373 shares during the period. Finally, AltraVue Capital LLC acquired a new position in shares of i3 Verticals during the fourth quarter worth $20,993,000. 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.