i3 Verticals’ (IIIV) “Buy” Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of i3 Verticals (NASDAQ:IIIV) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $33.00 price target on the stock.

A number of other research firms also recently weighed in on IIIV. DA Davidson reissued a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. KeyCorp decreased their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Raymond James dropped their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 12th. Stephens reiterated an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research note on Friday, August 16th. Finally, BMO Capital Markets lowered their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, i3 Verticals presently has an average rating of “Moderate Buy” and a consensus price target of $27.14.

i3 Verticals Price Performance

IIIV opened at $23.38 on Tuesday. i3 Verticals has a fifty-two week low of $17.54 and a fifty-two week high of $26.00. The firm has a 50-day moving average of $22.97 and a 200 day moving average of $21.98. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $790.01 million, a P/E ratio of 5.25 and a beta of 1.53.

Institutional Investors Weigh In On i3 Verticals

A number of hedge funds have recently made changes to their positions in IIIV. Hood River Capital Management LLC grew its holdings in shares of i3 Verticals by 6.3% during the 2nd quarter. Hood River Capital Management LLC now owns 1,190,184 shares of the company’s stock valued at $26,279,000 after purchasing an additional 70,253 shares during the last quarter. Long Path Partners LP boosted its position in i3 Verticals by 61.5% during the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock valued at $19,884,000 after buying an additional 355,392 shares during the period. Portolan Capital Management LLC grew its stake in shares of 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 last quarter. TimesSquare Capital Management LLC purchased a new position in shares of i3 Verticals in the third quarter worth about $11,373,000. Finally, State Street Corp lifted its stake 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 valued at $10,569,000 after acquiring an additional 2,664 shares during the last quarter. 84.22% of the stock is currently owned by 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.