i3 Verticals (NASDAQ:IIIV) Price Target Raised to $27.00 at Morgan Stanley

i3 Verticals (NASDAQ:IIIV) had its price target boosted by Morgan Stanley from $22.00 to $27.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also recently commented on IIIV. DA Davidson increased their price target on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday. Stephens reissued an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. BMO Capital Markets increased their price target on i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday. KeyCorp upped their price objective on i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Benchmark restated a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research note on Tuesday, November 19th. Two investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.86.

i3 Verticals Price Performance

IIIV stock opened at $28.93 on Wednesday. The stock has a market capitalization of $970.31 million, a P/E ratio of 6.44 and a beta of 1.51. The business has a 50-day moving average of $24.25 and a 200-day moving average of $23.36. i3 Verticals has a fifty-two week low of $18.52 and a fifty-two week high of $29.80.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.59%. Equities analysts expect that i3 Verticals will post 0.9 EPS for the current year.

Insider Transactions at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction of $444,346.56. Following the transaction, the president now owns 100,000 shares in the company, valued at approximately $2,528,000. This trade represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 59.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On i3 Verticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new position in i3 Verticals in the 4th quarter valued at $99,000. Quantbot Technologies LP acquired a new position in i3 Verticals in the 3rd quarter valued at $109,000. CIBC Private Wealth Group LLC raised its holdings in i3 Verticals by 52.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock valued at $126,000 after acquiring an additional 1,809 shares in the last quarter. AlphaQuest LLC increased its stake in shares of i3 Verticals by 688,600.0% in the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock valued at $159,000 after purchasing an additional 6,886 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of i3 Verticals by 26.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company’s stock valued at $168,000 after purchasing an additional 1,488 shares during the last quarter. 84.22% of the stock is owned by institutional investors and hedge funds.

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.