i3 Verticals (NASDAQ:IIIV) Given New $34.00 Price Target at DA Davidson

i3 Verticals (NASDAQ:IIIV) had its price objective upped by DA Davidson from $32.00 to $34.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on IIIV. BMO Capital Markets upped their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday. KeyCorp boosted their price objective on i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Monday. Stephens reaffirmed an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Finally, Benchmark reiterated a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. Two research 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 stock. According to MarketBeat, i3 Verticals presently has a consensus rating of “Moderate Buy” and an average target price of $29.86.

i3 Verticals Stock Down 2.5 %

IIIV stock opened at $28.93 on Monday. The stock’s 50 day moving average is $24.25 and its two-hundred day moving average is $23.36. i3 Verticals has a 52-week low of $18.52 and a 52-week high of $29.80. The company has a market capitalization of $970.31 million, a PE ratio of 6.44 and a beta of 1.51.

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

Insider Buying and Selling at i3 Verticals

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total value of $444,346.56. Following the sale, the president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 59.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On i3 Verticals

Several institutional investors have recently modified their holdings of IIIV. Royce & Associates LP lifted its position in i3 Verticals by 11.1% in the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock valued at $10,417,000 after purchasing an additional 48,840 shares during the last quarter. Barclays PLC increased its stake in shares of i3 Verticals by 112.3% in the third quarter. Barclays PLC now owns 41,036 shares of the company’s stock valued at $873,000 after purchasing an additional 21,709 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of i3 Verticals during the third quarter valued at approximately $11,373,000. State Street Corp boosted its position in shares of i3 Verticals by 0.5% during the third quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after buying an additional 2,664 shares during the period. Finally, Long Path Partners LP boosted its position in shares of i3 Verticals by 61.5% during the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after buying an additional 355,392 shares during the period. Institutional investors own 84.22% of the company’s stock.

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.