KeyCorp Forecasts Strong Price Appreciation for i3 Verticals (NASDAQ:IIIV) Stock

i3 Verticals (NASDAQ:IIIV) had its price target boosted by investment analysts at KeyCorp from $27.00 to $32.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 7.85% from the stock’s previous close.

A number of other research firms have also issued reports on IIIV. Stephens reissued an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. Benchmark reissued a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.86.

i3 Verticals Stock Up 1.5 %

Shares of i3 Verticals stock opened at $29.67 on Monday. The firm has a market capitalization of $995.13 million, a P/E ratio of 6.61 and a beta of 1.51. The company has a 50 day moving average price of $24.16 and a 200 day moving average price of $23.32. i3 Verticals has a 52 week low of $18.21 and a 52 week high of $29.80.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. As a group, research analysts anticipate that i3 Verticals will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of i3 Verticals stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total value of $444,346.56. Following the sale, the president now owns 100,000 shares of the company’s stock, valued at approximately $2,528,000. This trade represents a 14.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 59.07% of the company’s stock.

Institutional Investors Weigh In On i3 Verticals

Institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new stake in i3 Verticals in the 4th quarter valued at $99,000. Quantbot Technologies LP acquired a new stake in i3 Verticals in the 3rd quarter valued at $109,000. AlphaQuest LLC grew its stake in i3 Verticals by 688,600.0% in the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock valued at $159,000 after acquiring an additional 6,886 shares during the period. SG Americas Securities LLC grew its stake in i3 Verticals by 62.4% in the 4th quarter. SG Americas Securities LLC now owns 8,646 shares of the company’s stock valued at $199,000 after acquiring an additional 3,323 shares during the period. Finally, Atom Investors LP acquired a new stake in i3 Verticals during the 3rd quarter worth $218,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

About i3 Verticals

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.