i3 Verticals (NASDAQ:IIIV) Sets New 12-Month High – Still a Buy?

i3 Verticals, Inc. (NASDAQ:IIIV)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.66 and last traded at $24.61, with a volume of 336855 shares traded. The stock had previously closed at $23.79.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IIIV shares. BMO Capital Markets decreased their price objective on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, October 3rd. Stephens reaffirmed an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. DA Davidson reissued a “buy” rating and set a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Raymond James lowered their target price 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. Finally, KeyCorp dropped their price target on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, i3 Verticals has an average rating of “Moderate Buy” and a consensus target price of $27.14.

i3 Verticals Stock Up 4.5 %

The business has a 50-day moving average of $23.12 and a two-hundred day moving average of $22.05. The firm has a market capitalization of $833.80 million, a price-to-earnings ratio of 5.59 and a beta of 1.53.

Institutional Trading of i3 Verticals

Several institutional investors have recently modified their holdings of the company. Comerica Bank lifted its position in i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after purchasing an additional 672 shares during the period. Quantbot Technologies LP acquired a new position in shares of i3 Verticals in the 3rd quarter valued at $109,000. SG Americas Securities LLC bought a new position in shares of i3 Verticals during the 2nd quarter worth about $116,000. Atom Investors LP acquired a new stake in shares of i3 Verticals during the 3rd quarter valued at about $218,000. Finally, Sanctuary Advisors LLC bought a new stake in i3 Verticals in the second quarter valued at about $292,000. Institutional investors and hedge funds 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.