i3 Verticals (NASDAQ:IIIV) Price Target Cut to $21.00 by Analysts at BMO Capital Markets

i3 Verticals (NASDAQ:IIIV) had its price target lowered by BMO Capital Markets from $23.00 to $21.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other brokerages have also recently weighed in on IIIV. Benchmark reissued a buy rating and set a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, September 3rd. DA Davidson reiterated a buy rating and set a $32.00 target price on shares of i3 Verticals in a report on Monday, September 30th. Raymond James lowered their price target on i3 Verticals from $31.00 to $28.00 and set a strong-buy rating for the company in a report on Monday, August 12th. 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. Finally, Stephens reiterated an overweight rating and issued a $29.00 price objective on shares of i3 Verticals in a research report on Friday, August 16th. Two 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. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $27.14.

i3 Verticals Stock Up 3.1 %

Shares of i3 Verticals stock opened at $21.96 on Thursday. i3 Verticals has a 12 month low of $17.54 and a 12 month high of $25.51. The business has a fifty day simple moving average of $22.11 and a 200 day simple moving average of $21.77. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.01. The stock has a market cap of $735.05 million, a PE ratio of 2,196.00 and a beta of 1.54.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). i3 Verticals had a negative net margin of 0.01% and a positive return on equity of 5.99%. The company had revenue of $56.04 million during the quarter, compared to the consensus estimate of $96.43 million. Research analysts predict that i3 Verticals will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. YHB Investment Advisors Inc. bought a new stake in i3 Verticals in the 1st quarter valued at approximately $25,000. Comerica Bank lifted its position in shares of 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of i3 Verticals in the second quarter worth $116,000. Argent Capital Management LLC acquired a new position in i3 Verticals during the first quarter worth $200,000. Finally, EntryPoint Capital LLC bought a new position in i3 Verticals in the first quarter valued at $210,000. 84.22% of the stock is owned by institutional investors and hedge funds.

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.