i3 Verticals, Inc. (NASDAQ:IIIV) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC lowered its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,785,160 shares of the company’s stock after selling 20,218 shares during the period. Geneva Capital Management LLC owned approximately 5.32% of i3 Verticals worth $41,130,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Long Path Partners LP increased its holdings in shares of i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock valued at $19,884,000 after purchasing an additional 355,392 shares during the period. Portolan Capital Management LLC increased its holdings in shares of i3 Verticals by 3.8% in the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock valued at $13,917,000 after purchasing an additional 23,921 shares during the period. Raymond James Financial Inc. acquired a new position in shares of i3 Verticals in the fourth quarter valued at approximately $13,313,000. TimesSquare Capital Management LLC acquired a new position in shares of i3 Verticals in the third quarter valued at approximately $11,373,000. Finally, State Street Corp increased its holdings in shares of i3 Verticals by 0.5% in the third quarter. State Street Corp now owns 495,943 shares of the company’s stock valued at $10,569,000 after purchasing an additional 2,664 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Stock Performance

IIIV opened at $25.40 on Thursday. The business’s fifty day moving average is $25.47 and its two-hundred day moving average is $23.79. The company has a market cap of $840.08 million, a price-to-earnings ratio of 5.66 and a beta of 1.52. i3 Verticals, Inc. has a one year low of $18.75 and a one year high of $29.80.

i3 Verticals (NASDAQ:IIIV) last posted its earnings results 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 3.36% and a net margin of 41.85%. On average, analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. DA Davidson boosted their target price on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a report on Monday, February 10th. Benchmark reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Stephens reaffirmed an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. KeyCorp upped their price objective on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, BMO Capital Markets upped their price objective on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, February 10th. Two equities research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.86.

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.