i3 Verticals (NASDAQ:IIIV) Given Overweight Rating at Stephens

i3 Verticals (NASDAQ:IIIV)‘s stock had its “overweight” rating reiterated by equities research analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $29.00 target price on the stock. Stephens’ price target points to a potential upside of 18.71% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. KeyCorp reduced their price target on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Benchmark reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research note on Monday, September 30th. BMO Capital Markets lowered their target price on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, October 3rd. Finally, Raymond James cut their price target 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. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, i3 Verticals has an average rating of “Moderate Buy” and an average target price of $27.14.

i3 Verticals Trading Up 0.1 %

i3 Verticals stock traded up $0.03 during midday trading on Tuesday, hitting $24.43. 12,764 shares of the stock were exchanged, compared to its average volume of 220,716. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. The stock’s 50-day simple moving average is $22.85 and its 200 day simple moving average is $21.95. i3 Verticals has a fifty-two week low of $17.54 and a fifty-two week high of $26.00. The stock has a market capitalization of $825.49 million, a price-to-earnings ratio of -271.44 and a beta of 1.53.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IIIV. Bares Capital Management Inc. acquired a new stake in shares of i3 Verticals in the 3rd quarter valued at $334,000. ABS Direct Equity Fund LLC raised its stake in i3 Verticals by 40.0% in the third quarter. ABS Direct Equity Fund LLC now owns 35,000 shares of the company’s stock valued at $746,000 after buying an additional 10,000 shares in the last quarter. Barclays PLC lifted its holdings in i3 Verticals by 112.3% during the 3rd quarter. Barclays PLC now owns 41,036 shares of the company’s stock worth $873,000 after buying an additional 21,709 shares during the last quarter. State Street Corp lifted its holdings in i3 Verticals by 0.5% during 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 last quarter. Finally, Portolan Capital Management LLC boosted its position in shares of i3 Verticals by 3.8% during the 3rd quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after acquiring an additional 23,921 shares in the last quarter. 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.