Pitcairn Co. Has $316,000 Stock Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

Pitcairn Co. raised its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 14.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,818 shares of the company’s stock after buying an additional 1,767 shares during the period. Pitcairn Co.’s holdings in i3 Verticals were worth $316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Conestoga Capital Advisors LLC boosted its holdings in shares of i3 Verticals by 0.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 70,222 shares of the company’s stock valued at $1,607,000 after acquiring an additional 640 shares in the last quarter. Victory Capital Management Inc. raised its position 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 purchasing an additional 1,025 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of i3 Verticals during the first quarter valued at about $25,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of i3 Verticals by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company’s stock worth $106,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Cape Investment Advisory Inc. acquired a new position in shares of i3 Verticals in the fourth quarter valued at approximately $30,000. Institutional investors own 84.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IIIV shares. BMO Capital Markets reduced their target price on shares of i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, May 13th. Benchmark reiterated a “buy” rating and issued a $28.00 price target on shares of i3 Verticals in a research report on Monday, April 1st. KeyCorp raised their price objective on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Stephens upped their target price on i3 Verticals from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

i3 Verticals Stock Up 2.2 %

IIIV traded up $0.53 during midday trading on Thursday, hitting $24.28. The company had a trading volume of 254,732 shares, compared to its average volume of 234,518. The company has a market capitalization of $812.65 million, a price-to-earnings ratio of 2,377.38 and a beta of 1.58. The stock’s 50 day moving average price is $20.79 and its 200 day moving average price is $21.17. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. i3 Verticals, Inc. has a 52 week low of $17.54 and a 52 week high of $25.48.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Friday, May 10th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. The firm had revenue of $94.54 million for the quarter, compared to analyst estimates of $96.27 million. On average, research analysts anticipate that i3 Verticals, Inc. will post 0.9 earnings per share for the current fiscal year.

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.