Stephens Initiates Coverage on i3 Verticals (NASDAQ:IIIV)

Equities researchers at Stephens assumed coverage on shares of i3 Verticals (NASDAQ:IIIV) in a note issued to investors on Friday, Benzinga reports. The firm set an “equal weight” rating and a $23.00 price target on the stock. Stephens‘s price objective would suggest a potential upside of 23.39% from the stock’s current price.

Several other equities analysts have also commented on IIIV. DA Davidson decreased their price objective on shares of i3 Verticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Weiss Ratings downgraded shares of i3 Verticals from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. KeyCorp dropped their target price on shares of i3 Verticals from $27.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Finally, Benchmark lowered shares of i3 Verticals from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, i3 Verticals presently has an average rating of “Hold” and an average price target of $25.00.

i3 Verticals Trading Down 4.8%

Shares of NASDAQ:IIIV opened at $18.64 on Friday. The business’s 50-day moving average is $16.34 and its 200 day moving average is $19.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.21 and a quick ratio of 1.21. i3 Verticals has a 1 year low of $13.63 and a 1 year high of $29.69. The firm has a market capitalization of $490.60 million, a P/E ratio of 49.05 and a beta of 0.79.

Hedge Funds Weigh In On i3 Verticals

Institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers boosted its holdings in shares of i3 Verticals by 2.4% in the 1st quarter. Cetera Investment Advisers now owns 26,636 shares of the company’s stock valued at $596,000 after acquiring an additional 613 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of i3 Verticals by 10.6% during the first quarter. Empowered Funds LLC now owns 12,556 shares of the company’s stock worth $281,000 after purchasing an additional 1,208 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of i3 Verticals during the first quarter worth $28,000. Russell Investments Group Ltd. lifted its position in i3 Verticals by 10.6% during the third quarter. Russell Investments Group Ltd. now owns 13,456 shares of the company’s stock valued at $186,000 after purchasing an additional 1,285 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in i3 Verticals during the second quarter valued at $40,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Company Profile

i3 Verticals is a software company that develops technology for specialized markets, with a focus on public-sector organizations. Its products support functions such as utility billing, court and government operations, and payment collection. The company has also served customers in education and other markets, offering software designed to manage sector-specific administrative and operational needs. Its solutions can include integrated payment capabilities that help organizations process transactions through their software systems.