i3 Verticals (NASDAQ:IIIV) Given New $26.00 Price Target at BMO Capital Markets

i3 Verticals (NASDAQ:IIIV) had its price objective lifted by equities research analysts at BMO Capital Markets from $22.00 to $26.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential downside of 9.44% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. 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. Benchmark reiterated a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Finally, KeyCorp boosted their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Monday. 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 stock. According to MarketBeat.com, i3 Verticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.57.

i3 Verticals Price Performance

Shares of IIIV opened at $28.71 on Monday. The firm has a market capitalization of $962.93 million, a price-to-earnings ratio of 6.39 and a beta of 1.51. i3 Verticals has a 1-year low of $18.21 and a 1-year high of $28.97. The company has a 50-day moving average of $23.98 and a 200 day moving average of $23.25.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share 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%. On average, equities analysts anticipate that i3 Verticals will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were 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 $2,528,000. This represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 59.07% of the stock is currently owned by company insiders.

Institutional Trading of i3 Verticals

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of i3 Verticals in the fourth quarter worth $13,313,000. TimesSquare Capital Management LLC acquired a new position in shares of i3 Verticals in the 3rd quarter valued at $11,373,000. Long Path Partners LP raised its stake in i3 Verticals by 61.5% in the 3rd quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after acquiring an additional 355,392 shares during the last quarter. Legato Capital Management LLC acquired a new stake in i3 Verticals during the 4th quarter worth about $4,233,000. Finally, New York State Common Retirement Fund lifted 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 acquiring an additional 166,843 shares during the period. 84.22% of the stock is currently 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.