Raymond James & Associates Boosts Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Raymond James & Associates increased its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,927 shares of the company’s stock after purchasing an additional 2,267 shares during the quarter. Raymond James & Associates’ holdings in i3 Verticals were worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its position in i3 Verticals by 31.0% during the 4th quarter. SG Americas Securities LLC now owns 7,762 shares of the company’s stock worth $164,000 after purchasing an additional 1,836 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of i3 Verticals by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,262,579 shares of the company’s stock worth $26,691,000 after purchasing an additional 9,705 shares during the period. Wesbanco Bank Inc. grew its holdings in shares of i3 Verticals by 37.8% during the 3rd quarter. Wesbanco Bank Inc. now owns 49,547 shares of the company’s stock worth $1,047,000 after purchasing an additional 13,600 shares during the period. Deutsche Bank AG grew its holdings in shares of i3 Verticals by 17.7% during the 3rd quarter. Deutsche Bank AG now owns 13,063 shares of the company’s stock worth $276,000 after purchasing an additional 1,964 shares during the period. Finally, Comerica Bank purchased a new stake in shares of i3 Verticals during the 3rd quarter worth about $54,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $28.00 target price on shares of i3 Verticals in a report on Monday, April 1st. BMO Capital Markets decreased their target price on i3 Verticals from $24.00 to $23.00 and set a “market perform” rating for the company in a report on Monday, February 12th. Morgan Stanley reduced their price target on 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 raised i3 Verticals from a “d+” rating to a “c-” rating in a research report on Monday, March 18th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

i3 Verticals Stock Performance

IIIV stock opened at $22.54 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.85. The firm has a market cap of $752.16 million, a P/E ratio of -322.00 and a beta of 1.57. i3 Verticals, Inc. has a 12-month low of $17.54 and a 12-month high of $25.70. The stock’s 50 day simple moving average is $21.89 and its 200 day simple moving average is $20.66.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $91.99 million for 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%. As a group, equities research analysts predict that i3 Verticals, Inc. will post 0.95 EPS for the current year.

i3 Verticals 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.