i3 Verticals (NASDAQ:IIIV) Shares Gap Down – Should You Sell?

i3 Verticals, Inc. (NASDAQ:IIIV) shares gapped down prior to trading on Tuesday . The stock had previously closed at $24.40, but opened at $23.44. i3 Verticals shares last traded at $24.58, with a volume of 6,823 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. DA Davidson reissued a “buy” rating and set a $32.00 price objective on shares of i3 Verticals in a report on Monday, September 30th. Benchmark reiterated a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a report on Tuesday. KeyCorp decreased their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Raymond James cut their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. Finally, BMO Capital Markets reduced their target price 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. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.14.

i3 Verticals Stock Down 4.4 %

The company has a 50-day moving average of $22.85 and a 200-day moving average of $21.95. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $788.32 million, a price-to-earnings ratio of -271.44 and a beta of 1.53.

Institutional Investors Weigh In On i3 Verticals

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in i3 Verticals by 11.7% in the 1st quarter. BNP Paribas Financial Markets now owns 19,920 shares of the company’s stock worth $456,000 after purchasing an additional 2,085 shares in the last quarter. Pitcairn Co. lifted its stake in shares of i3 Verticals by 14.7% during the first quarter. Pitcairn Co. now owns 13,818 shares of the company’s stock worth $316,000 after buying an additional 1,767 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of i3 Verticals during the first quarter valued at $210,000. Hood River Capital Management LLC increased its position in shares of i3 Verticals by 43.1% in the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock valued at $25,635,000 after acquiring an additional 337,576 shares during the period. Finally, Kennedy Capital Management LLC raised its stake in i3 Verticals by 13.3% in the 1st quarter. Kennedy Capital Management LLC now owns 170,957 shares of the company’s stock worth $3,913,000 after acquiring an additional 20,088 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

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.