Assenagon Asset Management S.A. Buys 107,054 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Assenagon Asset Management S.A. grew its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 33.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 429,065 shares of the company’s stock after purchasing an additional 107,054 shares during the period. Assenagon Asset Management S.A. owned about 1.28% of i3 Verticals worth $9,474,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Conestoga Capital Advisors LLC lifted its position in shares of i3 Verticals by 0.9% during the first quarter. Conestoga Capital Advisors LLC now owns 70,222 shares of the company’s stock worth $1,607,000 after acquiring an additional 640 shares in the last quarter. Comerica Bank increased its stake in i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after acquiring an additional 672 shares during the last quarter. Victory Capital Management Inc. increased its stake in i3 Verticals by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 43,000 shares of the company’s stock valued at $910,000 after acquiring an additional 1,025 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in i3 Verticals in the first quarter valued at $25,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in i3 Verticals by 36.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company’s stock valued at $106,000 after acquiring an additional 1,345 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on IIIV shares. Benchmark reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research note on Friday. KeyCorp cut their price target on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Stephens restated an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research report on Friday. Raymond James cut their price target on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. Finally, BMO Capital Markets cut their price target on shares of i3 Verticals from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, i3 Verticals presently has a consensus rating of “Moderate Buy” and an average target price of $26.83.

i3 Verticals Stock Up 1.6 %

IIIV traded up $0.34 on Friday, hitting $21.56. The company had a trading volume of 182,764 shares, compared to its average volume of 234,540. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $25.51. The stock has a fifty day simple moving average of $22.13 and a 200-day simple moving average of $21.55. The firm has a market capitalization of $721.66 million, a P/E ratio of 2,156.00 and a beta of 1.58.

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.