i3 Verticals (NASDAQ:IIIV) Stock Price Expected to Rise, DA Davidson Analyst Says

i3 Verticals (NASDAQ:IIIV) had its price target boosted by stock analysts at DA Davidson from $32.00 to $34.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price suggests a potential upside of 16.40% from the stock’s previous close.

A number of other research firms also recently weighed in on IIIV. BMO Capital Markets lifted their target price on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday. KeyCorp raised their price objective on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday. Benchmark reaffirmed a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Finally, Stephens restated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

i3 Verticals Stock Performance

i3 Verticals stock traded up $0.99 during midday trading on Monday, reaching $29.21. 54,012 shares of the company’s stock were exchanged, compared to its average volume of 269,510. The stock’s 50-day simple moving average is $23.98 and its 200 day simple moving average is $23.25. The firm has a market cap of $979.70 million, a price-to-earnings ratio of 6.51 and a beta of 1.51. i3 Verticals has a 52 week low of $18.21 and a 52 week high of $29.16.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. Research analysts forecast that i3 Verticals will post 0.9 earnings per share for the current year.

Insider Activity at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total value of $444,346.56. Following the transaction, the president now owns 100,000 shares in the company, valued at $2,528,000. The trade was a 14.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 59.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On i3 Verticals

A number of hedge funds and other institutional investors have recently made changes to their positions in IIIV. Swiss National Bank increased its stake in shares of i3 Verticals by 2.0% during the 4th quarter. Swiss National Bank now owns 46,700 shares of the company’s stock worth $1,076,000 after purchasing an additional 900 shares during the last quarter. AlphaQuest LLC grew its stake in shares of i3 Verticals by 688,600.0% during the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock worth $159,000 after acquiring an additional 6,886 shares during the period. Raymond James Financial Inc. purchased a new stake in i3 Verticals in the 4th quarter worth about $13,313,000. Victory Capital Management Inc. lifted its holdings in i3 Verticals by 49.8% during the fourth quarter. Victory Capital Management Inc. now owns 72,652 shares of the company’s stock valued at $1,674,000 after purchasing an additional 24,152 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of i3 Verticals by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company’s stock valued at $1,529,000 after purchasing an additional 1,404 shares during the period. 84.22% of the stock is 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.