KeyCorp Issues Positive Forecast for i3 Verticals (NASDAQ:IIIV) Stock Price

i3 Verticals (NASDAQ:IIIV) had its target price lifted by KeyCorp from $27.00 to $32.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

IIIV has been the subject of several other reports. Benchmark reissued a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. Stephens reissued an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.86.

i3 Verticals Stock Down 2.5 %

Shares of IIIV stock opened at $28.93 on Monday. The company’s 50 day moving average is $24.25 and its 200 day moving average is $23.36. The firm has a market cap of $970.31 million, a price-to-earnings ratio of 6.44 and a beta of 1.51. i3 Verticals has a 52-week low of $18.52 and a 52-week high of $29.80.

i3 Verticals (NASDAQ:IIIV) last announced 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 net margin of 41.85% and a return on equity of 3.59%. Analysts anticipate that i3 Verticals will post 0.9 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AltraVue Capital LLC purchased a new stake in shares of i3 Verticals during the fourth quarter valued at $20,993,000. Raymond James Financial Inc. purchased a new stake in i3 Verticals during the 4th quarter valued at about $13,313,000. TimesSquare Capital Management LLC purchased a new stake in i3 Verticals during the 3rd quarter valued at about $11,373,000. Long Path Partners LP increased its holdings in shares of i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock valued at $19,884,000 after purchasing an additional 355,392 shares during the period. Finally, Legato Capital Management LLC purchased a new position in shares of i3 Verticals in the fourth quarter worth about $4,233,000. 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.