Dimensional Fund Advisors LP Raises Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Dimensional Fund Advisors LP lifted its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 498,923 shares of the company's stock after purchasing an additional 11,270 shares during the quarter. Dimensional Fund Advisors LP owned about 1.49% of i3 Verticals worth $11,496,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Barclays PLC raised its position in i3 Verticals by 112.3% during the 3rd quarter. Barclays PLC now owns 41,036 shares of the company's stock worth $873,000 after buying an additional 21,709 shares during the last quarter. Argent Capital Management LLC increased its stake in shares of i3 Verticals by 38.6% during the fourth quarter. Argent Capital Management LLC now owns 22,418 shares of the company's stock worth $517,000 after acquiring an additional 6,238 shares during the period. SG Americas Securities LLC raised its holdings in i3 Verticals by 62.4% during the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company's stock worth $199,000 after purchasing an additional 3,323 shares in the last quarter. Equitable Trust Co. acquired a new stake in i3 Verticals in the fourth quarter valued at about $746,000. Finally, Legato Capital Management LLC purchased a new stake in i3 Verticals in the 4th quarter valued at approximately $4,233,000. Hedge funds and other institutional investors own 84.22% of the company's stock.

i3 Verticals Trading Down 0.7%

Shares of IIIV stock traded down $0.18 during mid-day trading on Thursday, reaching $26.57. The stock had a trading volume of 86,921 shares, compared to its average volume of 232,708. The business has a 50-day simple moving average of $24.77 and a 200 day simple moving average of $24.75. i3 Verticals, Inc. has a 12-month low of $18.75 and a 12-month high of $29.80. The company has a market cap of $878.78 million, a P/E ratio of 5.92 and a beta of 1.31.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. DA Davidson increased their target price on i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Morgan Stanley reduced their target price on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday. KeyCorp boosted their target price 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. Finally, BMO Capital Markets increased their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a report on Monday, February 10th. 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.57.

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.