Renaissance Technologies LLC Sells 30,544 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Renaissance Technologies LLC reduced its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 50.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,700 shares of the company's stock after selling 30,544 shares during the quarter. Renaissance Technologies LLC owned 0.09% of i3 Verticals worth $684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its stake in i3 Verticals by 112.3% during the 3rd 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 last quarter. New York State Common Retirement Fund boosted its position in shares of i3 Verticals by 1,855.9% during the fourth quarter. New York State Common Retirement Fund now owns 175,833 shares of the company's stock valued at $4,051,000 after buying an additional 166,843 shares during the last quarter. Swiss National Bank grew its holdings in i3 Verticals by 2.0% during the fourth quarter. Swiss National Bank now owns 46,700 shares of the company's stock worth $1,076,000 after buying an additional 900 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in i3 Verticals by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company's stock valued at $1,529,000 after buying an additional 1,404 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in i3 Verticals during the 4th quarter valued at $13,313,000. 84.22% of the stock is owned by institutional investors.

i3 Verticals Stock Performance

NASDAQ IIIV traded up $0.36 on Thursday, hitting $26.93. The stock had a trading volume of 15,460 shares, compared to its average volume of 227,861. The firm has a 50-day moving average of $24.70 and a 200-day moving average of $24.65. The company has a market capitalization of $890.68 million, a price-to-earnings ratio of 6.00 and a beta of 1.31. i3 Verticals, Inc. has a 52-week low of $18.75 and a 52-week high of $29.80.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (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 3.36%. As a group, research analysts anticipate that i3 Verticals, Inc. will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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 research report on Monday, February 10th. Morgan Stanley increased their price target on i3 Verticals from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. BMO Capital Markets boosted their price objective 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. Finally, 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. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.86.

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.