Envestnet Asset Management Inc. Has $1.26 Million Stock Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

Envestnet Asset Management Inc. increased its position in i3 Verticals, Inc. (NASDAQ:IIIVGet Rating) by 99.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,434 shares of the company’s stock after buying an additional 25,156 shares during the period. Envestnet Asset Management Inc.’s holdings in i3 Verticals were worth $1,262,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its stake in shares of i3 Verticals by 215.5% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,893 shares of the company’s stock valued at $53,000 after buying an additional 1,293 shares during the period. Amalgamated Bank acquired a new position in i3 Verticals during the 1st quarter valued at about $97,000. Banc Funds Co. LLC boosted its stake in i3 Verticals by 16.9% during the 1st quarter. Banc Funds Co. LLC now owns 35,300 shares of the company’s stock valued at $983,000 after purchasing an additional 5,100 shares during the last quarter. Tiedemann Advisors LLC acquired a new position in i3 Verticals during the 2nd quarter valued at about $1,251,000. Finally, Portolan Capital Management LLC acquired a new position in i3 Verticals during the 1st quarter valued at about $7,573,000. 64.29% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Price Performance

i3 Verticals stock opened at $24.13 on Wednesday. i3 Verticals, Inc. has a 52 week low of $17.80 and a 52 week high of $30.26. The company’s 50 day moving average price is $20.94 and its two-hundred day moving average price is $23.38. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The stock has a market cap of $778.96 million, a P/E ratio of -31.75, a P/E/G ratio of 1.85 and a beta of 1.30.

Analyst Upgrades and Downgrades

IIIV has been the subject of a number of analyst reports. BTIG Research lifted their price target on i3 Verticals to $34.00 in a research note on Monday, August 15th. Raymond James cut their price target on i3 Verticals from $40.00 to $36.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 6th. DA Davidson lifted their price target on i3 Verticals to $36.00 in a research note on Monday. Finally, Morgan Stanley lifted their price target on i3 Verticals from $25.50 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, i3 Verticals has a consensus rating of “Buy” and an average target price of $32.40.

i3 Verticals Profile

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i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, and healthcare markets in the United States. It operates in two segments, Merchant Services, and Proprietary Software and Payments. The company offers payment processing services that enables clients to accept electronic payments, facilitating the exchange of funds and transaction data between clients, financial institutions, and payment networks.

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Institutional Ownership by Quarter for i3 Verticals (NASDAQ:IIIV)

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