Boston Partners Makes New Investment in i3 Verticals, Inc. (NASDAQ:IIIV)

Boston Partners bought a new position in i3 Verticals, Inc. (NASDAQ:IIIVFree Report) in the 3rd quarter, Holdings Channel reports. The firm bought 46,278 shares of the company’s stock, valued at approximately $978,000.

Several other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of i3 Verticals during the 3rd quarter worth $6,807,000. Raymond James & Associates increased its position in i3 Verticals by 28.7% during the 3rd quarter. Raymond James & Associates now owns 77,660 shares of the company’s stock valued at $1,642,000 after buying an additional 17,297 shares in the last quarter. Bank of New York Mellon Corp increased its position in i3 Verticals by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 114,906 shares of the company’s stock valued at $2,429,000 after buying an additional 1,749 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in i3 Verticals by 20.8% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,821 shares of the company’s stock valued at $87,000 after buying an additional 657 shares in the last quarter. Finally, Voss Capital LLC increased its position in i3 Verticals by 36.9% during the 3rd quarter. Voss Capital LLC now owns 937,083 shares of the company’s stock valued at $19,810,000 after buying an additional 252,439 shares in the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on i3 Verticals from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Stephens reissued an “overweight” rating and issued a $32.00 price objective on shares of i3 Verticals in a report on Thursday, November 16th. KeyCorp dropped their target price on i3 Verticals from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Finally, BMO Capital Markets began coverage on i3 Verticals in a report on Tuesday, December 5th. They set a “market perform” rating and a $24.00 target price on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.83.

Check Out Our Latest Stock Analysis on i3 Verticals

i3 Verticals Stock Performance

Shares of IIIV stock opened at $18.52 on Thursday. The business’s 50 day moving average is $20.17 and its two-hundred day moving average is $21.02. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.17. i3 Verticals, Inc. has a 12-month low of $17.87 and a 12-month high of $29.49.

i3 Verticals (NASDAQ:IIIVGet Free Report) last issued its quarterly earnings results on Wednesday, November 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $96.41 million for the quarter, compared to analysts’ expectations of $97.16 million. i3 Verticals had a positive return on equity of 9.48% and a negative net margin of 0.22%. On average, equities analysts expect that i3 Verticals, Inc. will post 1.01 earnings per share for the current fiscal year.

i3 Verticals Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding IIIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for i3 Verticals, Inc. (NASDAQ:IIIVFree Report).

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

Receive News & Ratings for i3 Verticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for i3 Verticals and related companies with MarketBeat.com's FREE daily email newsletter.