i3 Verticals, Inc. (NASDAQ:IIIV) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $29.8333.

Several equities analysts recently issued reports on IIIV shares. DA Davidson lowered their price objective on i3 Verticals from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Cantor Fitzgerald lowered their price objective on i3 Verticals from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Benchmark dropped their price objective on i3 Verticals from $39.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, Weiss Ratings raised shares of i3 Verticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th.

i3 Verticals Stock Up 2.7%

Shares of NASDAQ:IIIV opened at $22.43 on Thursday. The firm has a market capitalization of $626.51 million, a P/E ratio of 32.04 and a beta of 0.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50 day moving average price of $20.65 and a 200-day moving average price of $21.52. i3 Verticals has a 52-week low of $18.47 and a 52-week high of $33.97.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. i3 Verticals had a net margin of 8.59% and a return on equity of 4.19%. The business had revenue of $57.52 million for the quarter, compared to analyst estimates of $57.51 million. As a group, equities research analysts anticipate that i3 Verticals will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gregory S. Daily purchased 50,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $19.23 per share, for a total transaction of $961,500.00. Following the acquisition, the chief executive officer owned 50,000 shares of the company’s stock, valued at approximately $961,500. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 60.09% of the company’s stock.

Hedge Funds Weigh In On i3 Verticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in i3 Verticals by 31.4% during the 1st quarter. Royal Bank of Canada now owns 57,505 shares of the company’s stock worth $1,419,000 after acquiring an additional 13,729 shares during the period. AQR Capital Management LLC acquired a new position in i3 Verticals in the 1st quarter worth about $209,000. JPMorgan Chase & Co. lifted its position in shares of i3 Verticals by 11.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,383 shares of the company’s stock valued at $340,000 after buying an additional 1,266 shares in the last quarter. Invesco Ltd. lifted its stake in i3 Verticals by 4.6% in the 2nd quarter. Invesco Ltd. now owns 26,328 shares of the company’s stock valued at $723,000 after buying an additional 1,156 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in i3 Verticals by 25.4% during the 2nd quarter. Federated Hermes Inc. now owns 70,587 shares of the company’s stock worth $1,940,000 after buying an additional 14,295 shares in the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

About i3 Verticals

i3 Verticals, Inc is a provider of integrated software and merchant payment processing solutions tailored for specific vertical markets across the United States. Since its founding in 2001 and headquartered in Columbia, South Carolina, the company has focused on delivering SaaS-based applications and payment services to streamline revenue collection and management workflows for its clients.

The company’s product portfolio includes electronic payment processing for credit and debit card transactions, automated clearing house (ACH) transfers, online and mobile payment portals, and related risk management and compliance tools.