Raymond James & Associates decreased its holdings in i3 Verticals, Inc. (NASDAQ:IIIV – Get Rating) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,319 shares of the company’s stock after selling 3,356 shares during the period. Raymond James & Associates owned about 0.27% of i3 Verticals worth $1,729,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Amalgamated Bank purchased a new position in i3 Verticals during the first quarter valued at $97,000. Shaker Investments LLC OH purchased a new stake in shares of i3 Verticals during the third quarter worth about $203,000. PDT Partners LLC raised its stake in i3 Verticals by 213.7% during the 2nd quarter. PDT Partners LLC now owns 23,458 shares of the company’s stock valued at $587,000 after purchasing an additional 15,980 shares during the period. Envestnet Asset Management Inc. lifted its holdings in i3 Verticals by 99.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 50,434 shares of the company’s stock worth $1,262,000 after purchasing an additional 25,156 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. bought a new position in i3 Verticals in the 2nd quarter worth approximately $3,391,000. Institutional investors own 61.77% of the company’s stock.
i3 Verticals Trading Down 3.1 %
IIIV stock opened at $28.58 on Wednesday. The firm has a fifty day moving average price of $25.44 and a 200 day moving average price of $23.88. i3 Verticals, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $30.26. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $946.48 million, a PE ratio of -37.61, a price-to-earnings-growth ratio of 2.93 and a beta of 1.34.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. DA Davidson increased their price objective on shares of i3 Verticals to $36.00 in a report on Monday, November 21st. Raymond James cut their price objective on shares of i3 Verticals from $40.00 to $36.00 and set a “strong-buy” rating for the company in a report on Thursday, October 6th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $32.40.
i3 Verticals Profile
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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