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

Benchmark reaffirmed their buy rating on shares of i3 Verticals (NASDAQ:IIIV) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $33.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Stephens reiterated an overweight rating and set a $29.00 target price on shares of i3 Verticals in a research report on Friday, August 16th. Raymond James cut their price objective on i3 Verticals from $31.00 to $28.00 and set a strong-buy rating on the stock in a report on Monday, August 12th. KeyCorp cut their price objective on i3 Verticals from $28.00 to $27.00 and set an overweight rating on the stock in a report on Monday, August 12th. Finally, BMO Capital Markets cut their price objective on i3 Verticals from $25.00 to $24.00 and set a market perform rating on the stock in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $26.83.

i3 Verticals Stock Performance

NASDAQ IIIV opened at $21.60 on Tuesday. The business’s 50-day moving average price is $22.69 and its 200 day moving average price is $21.81. i3 Verticals has a twelve month low of $17.54 and a twelve month high of $25.51. The company has a market capitalization of $723.00 million, a PE ratio of 2,160.00 and a beta of 1.54. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01.

i3 Verticals (NASDAQ:IIIV) last released its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.31). i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. The business had revenue of $56.04 million for the quarter, compared to analysts’ expectations of $96.43 million. On average, research analysts predict that i3 Verticals will post 0.64 earnings per share for the current year.

Institutional Investors Weigh In On i3 Verticals

Several hedge funds have recently modified their holdings of the stock. Ranger Investment Management L.P. grew its stake in i3 Verticals by 2.6% during the 4th quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock valued at $22,186,000 after purchasing an additional 26,670 shares in the last quarter. Palogic Value Management L.P. grew its stake in i3 Verticals by 65.5% during the 4th quarter. Palogic Value Management L.P. now owns 120,000 shares of the company’s stock valued at $2,540,000 after purchasing an additional 47,500 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in i3 Verticals during the 1st quarter valued at approximately $3,461,000. CIBC Private Wealth Group LLC grew its stake in i3 Verticals by 147.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock valued at $5,196,000 after purchasing an additional 146,222 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in i3 Verticals during the 2nd quarter valued at approximately $600,000. 84.22% of the stock is currently 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.