Geode Capital Management LLC Buys 3,373 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Geode Capital Management LLC grew its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 538,057 shares of the company’s stock after purchasing an additional 3,373 shares during the quarter. Geode Capital Management LLC owned approximately 1.60% of i3 Verticals worth $12,400,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IIIV. AltraVue Capital LLC acquired a new stake in i3 Verticals during the fourth quarter worth approximately $20,993,000. Raymond James Financial Inc. bought a new stake in i3 Verticals in the 4th quarter valued at $13,313,000. Legato Capital Management LLC acquired a new position in i3 Verticals in the 4th quarter valued at $4,233,000. New York State Common Retirement Fund increased its position in i3 Verticals by 1,855.9% during the 4th quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock worth $4,051,000 after buying an additional 166,843 shares during the period. Finally, Royce & Associates LP lifted its holdings in shares of i3 Verticals by 10.7% during the fourth quarter. Royce & Associates LP now owns 541,350 shares of the company’s stock worth $12,473,000 after buying an additional 52,510 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

Analyst Upgrades and Downgrades

IIIV has been the topic of a number of recent research reports. KeyCorp raised their price target 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 boosted their price target on i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, February 10th. Morgan Stanley lifted their price objective on i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, DA Davidson upped their target price on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.86.

i3 Verticals Trading Down 2.6 %

IIIV stock opened at $24.49 on Tuesday. The firm has a 50-day moving average price of $25.21 and a 200-day moving average price of $24.44. i3 Verticals, Inc. has a 12 month low of $18.75 and a 12 month high of $29.80. The stock has a market capitalization of $809.98 million, a P/E ratio of 5.45 and a beta of 1.36.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. As a group, equities analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal 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.