i3 Verticals, Inc. (NASDAQ:IIIV) Receives Average Rating of "Moderate Buy" from Analysts

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $29.86.

IIIV has been the subject of several recent research reports. 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. KeyCorp raised 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, February 10th. DA Davidson increased their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Finally, Morgan Stanley reduced their price target on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday.

i3 Verticals Stock Performance

Shares of NASDAQ:IIIV traded down $0.36 during midday trading on Tuesday, hitting $25.00. 89,563 shares of the stock were exchanged, compared to its average volume of 229,711. The company has a market capitalization of $826.85 million, a PE ratio of 5.57 and a beta of 1.31. i3 Verticals has a 52-week low of $18.75 and a 52-week high of $29.80. The business's fifty day simple moving average is $24.74 and its two-hundred day simple moving average is $24.74.

Institutional Trading of i3 Verticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IIIV. Vanguard Group Inc. boosted its position in shares of i3 Verticals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company's stock valued at $30,544,000 after acquiring an additional 19,342 shares during the period. Long Path Partners LP boosted its holdings in i3 Verticals by 5.0% in the 4th quarter. Long Path Partners LP now owns 979,777 shares of the company's stock valued at $22,574,000 after purchasing an additional 46,679 shares during the period. AltraVue Capital LLC bought a new stake in i3 Verticals in the 4th quarter valued at $20,993,000. Forager Capital Management LLC acquired a new stake in i3 Verticals in the 4th quarter worth $17,626,000. Finally, Portolan Capital Management LLC increased its holdings in shares of i3 Verticals by 3.5% during the 4th quarter. Portolan Capital Management LLC now owns 676,135 shares of the company's stock worth $15,578,000 after purchasing an additional 23,063 shares during the period. Institutional investors and hedge funds 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.

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