i3 Verticals, Inc. (NASDAQ:IIIV) Receives $27.57 Average PT from Brokerages

i3 Verticals, Inc. (NASDAQ:IIIVGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $27.57.

A number of research firms have recently commented on IIIV. Benchmark reissued a “buy” rating and set a $28.00 target price on shares of i3 Verticals in a research note on Monday, April 1st. Morgan Stanley dropped their price objective on shares of i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. TheStreet upgraded shares of i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. BMO Capital Markets reduced their target price on shares of i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, May 13th. Finally, KeyCorp increased their target price on shares of i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd.

Check Out Our Latest Report on i3 Verticals

i3 Verticals Trading Up 1.3 %

Shares of i3 Verticals stock opened at $19.39 on Tuesday. The firm has a 50-day simple moving average of $21.71 and a two-hundred day simple moving average of $20.97. The company has a market cap of $648.98 million, a P/E ratio of 1,940.94 and a beta of 1.56. i3 Verticals has a fifty-two week low of $17.54 and a fifty-two week high of $25.70. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81.

Hedge Funds Weigh In On i3 Verticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hood River Capital Management LLC increased its position in shares of i3 Verticals by 43.1% in the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after acquiring an additional 337,576 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of i3 Verticals in the 3rd quarter worth about $6,807,000. Confluence Investment Management LLC acquired a new stake in shares of i3 Verticals in the 1st quarter worth about $3,461,000. CIBC Private Wealth Group LLC increased its holdings in shares of i3 Verticals by 147.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after acquiring an additional 146,222 shares during the period. Finally, B. Riley Asset Management LLC acquired a new stake in shares of i3 Verticals in the 3rd quarter worth about $2,492,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Company Profile

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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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Analyst Recommendations for i3 Verticals (NASDAQ:IIIV)

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