i3 Verticals (NASDAQ:IIIV) Price Target Raised to $27.00

i3 Verticals (NASDAQ:IIIV) had its target price upped by Morgan Stanley from $22.00 to $27.00 in a report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

IIIV has been the subject of a number of other research reports. DA Davidson raised their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. KeyCorp increased their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. BMO Capital Markets increased their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th. Benchmark reiterated a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. Finally, Stephens reiterated an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.86.

i3 Verticals Stock Performance

i3 Verticals stock opened at $29.07 on Wednesday. The company has a 50 day moving average price of $24.47 and a 200 day moving average price of $23.43. i3 Verticals has a 52 week low of $18.75 and a 52 week high of $29.80. The firm has a market capitalization of $975.01 million, a price-to-earnings ratio of 6.47 and a beta of 1.51.

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

Insider Activity

In other news, President Frederick Stanford sold 17,577 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the transaction, the president now owns 100,000 shares in the company, valued at approximately $2,528,000. This trade represents a 14.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 59.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IIIV. Johnson Financial Group Inc. bought a new position in shares of i3 Verticals during the 4th quarter valued at $72,000. KLP Kapitalforvaltning AS bought a new position in i3 Verticals in the 4th quarter worth $99,000. Quantbot Technologies LP bought a new position in i3 Verticals in the 3rd quarter worth $109,000. CIBC Private Wealth Group LLC raised its holdings in i3 Verticals by 52.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock worth $126,000 after acquiring an additional 1,809 shares during the period. Finally, AlphaQuest LLC raised its holdings in i3 Verticals by 688,600.0% in 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. 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.