Vanguard Group Inc. Buys 9,705 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Vanguard Group Inc. grew its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,262,579 shares of the company’s stock after buying an additional 9,705 shares during the period. Vanguard Group Inc.’s holdings in i3 Verticals were worth $26,691,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wesbanco Bank Inc. increased its position in shares of i3 Verticals by 37.8% during the third quarter. Wesbanco Bank Inc. now owns 49,547 shares of the company’s stock valued at $1,047,000 after buying an additional 13,600 shares during the period. Deutsche Bank AG increased its position in shares of i3 Verticals by 17.7% during the third quarter. Deutsche Bank AG now owns 13,063 shares of the company’s stock valued at $276,000 after buying an additional 1,964 shares during the period. Comerica Bank bought a new stake in shares of i3 Verticals during the third quarter valued at about $54,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of i3 Verticals during the third quarter valued at about $321,000. Finally, Royal Bank of Canada increased its position in shares of i3 Verticals by 2.4% during the third quarter. Royal Bank of Canada now owns 531,144 shares of the company’s stock valued at $11,229,000 after buying an additional 12,635 shares during the period. 84.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IIIV has been the topic of several analyst reports. BMO Capital Markets decreased their price target on i3 Verticals from $24.00 to $23.00 and set a “market perform” rating on the stock in a research report on Monday, February 12th. Benchmark restated a “buy” rating and issued a $28.00 price objective on shares of i3 Verticals in a research report on Monday, April 1st. Morgan Stanley decreased their price objective on shares of i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Finally, TheStreet upgraded shares of i3 Verticals from a “d+” rating to a “c-” rating in a research report on Monday, March 18th. 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. According to MarketBeat.com, i3 Verticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

i3 Verticals Stock Down 3.4 %

IIIV stock opened at $22.98 on Friday. The stock has a market cap of $766.84 million, a price-to-earnings ratio of -328.29 and a beta of 1.57. The company’s 50 day moving average is $21.65 and its 200 day moving average is $20.63. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.85. i3 Verticals, Inc. has a 1-year low of $17.54 and a 1-year high of $25.70.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Thursday, February 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $91.99 million during the quarter, compared to analyst estimates of $92.92 million. i3 Verticals had a return on equity of 9.28% and a net margin of 0.14%. Sell-side analysts predict that i3 Verticals, Inc. will post 0.95 EPS for the current fiscal year.

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.