Raymond James Financial Services Advisors Inc. reduced its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV – Get Rating) by 1.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 98,954 shares of the company’s stock after selling 1,939 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in i3 Verticals were worth $2,757,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of IIIV. Steward Partners Investment Advisory LLC lifted its position in i3 Verticals by 215.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,893 shares of the company’s stock worth $53,000 after buying an additional 1,293 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in i3 Verticals by 24.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,960 shares of the company’s stock worth $90,000 after buying an additional 790 shares during the last quarter. Lbmc Investment Advisors LLC bought a new stake in i3 Verticals in the first quarter worth $208,000. Sheaff Brock Investment Advisors LLC bought a new stake in i3 Verticals in the first quarter worth $214,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in i3 Verticals by 8.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,761 shares of the company’s stock worth $272,000 after buying an additional 741 shares during the last quarter. 64.29% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on IIIV. Stephens began coverage on i3 Verticals in a research report on Thursday, June 9th. They issued an “overweight” rating and a $30.00 price target for the company. BTIG Research increased their target price on i3 Verticals to $34.00 in a research note on Monday, August 15th. Finally, Morgan Stanley increased their target price on i3 Verticals from $25.50 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 10th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.00.
i3 Verticals Stock Performance
i3 Verticals (NASDAQ:IIIV – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $80.55 million for the quarter, compared to analyst estimates of $76.77 million. i3 Verticals had a positive return on equity of 8.22% and a negative net margin of 4.71%. Analysts predict that i3 Verticals, Inc. will post 0.55 earnings per share for the current year.
In other news, CTO Robert Bertke sold 2,324 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $24.72, for a total transaction of $57,449.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 30.36% of the company’s stock.
i3 Verticals Profile
i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, and healthcare markets in the United States. It operates in two segments, Merchant Services, and Proprietary Software and Payments. The company offers payment processing services that enables clients to accept electronic payments, facilitating the exchange of funds and transaction data between clients, financial institutions, and payment networks.
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