i3 Verticals (IIIV) Downgraded by Zacks Investment Research to Sell

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i3 Verticals (NASDAQ:IIIV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “i3 Verticals, Inc. provides payment and software solutions. The Company offers electronic payment services to education, non-profit, public sector, property management and health care industries. i3 Verticals, Inc. is based in TN, United States. “

Other analysts also recently issued research reports about the stock. BTIG Research initiated coverage on shares of i3 Verticals in a report on Tuesday, December 11th. They set a “buy” rating and a $27.00 target price for the company. Raymond James lifted their target price on shares of i3 Verticals from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 30th. Finally, KeyCorp lifted their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $24.50.

Shares of IIIV traded up $0.10 during midday trading on Friday, reaching $22.00. The stock had a trading volume of 196,100 shares, compared to its average volume of 111,884. i3 Verticals has a one year low of $13.79 and a one year high of $27.09. The company has a market cap of $579.90 million and a PE ratio of 39.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.53 and a quick ratio of 0.53.

i3 Verticals (NASDAQ:IIIV) last announced its earnings results on Thursday, February 14th. The company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $29.60 million for the quarter, compared to the consensus estimate of $30.01 million. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Analysts expect that i3 Verticals will post 0.74 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the stock. Northern Trust Corp boosted its holdings in shares of i3 Verticals by 0.8% during the 4th quarter. Northern Trust Corp now owns 97,259 shares of the company’s stock worth $2,344,000 after buying an additional 794 shares during the period. Legal & General Group Plc bought a new stake in shares of i3 Verticals during the 3rd quarter worth about $27,000. Raymond James & Associates boosted its holdings in shares of i3 Verticals by 11.5% during the 4th quarter. Raymond James & Associates now owns 17,400 shares of the company’s stock worth $419,000 after buying an additional 1,800 shares during the period. Nicholas Company Inc. boosted its holdings in shares of i3 Verticals by 0.9% during the 4th quarter. Nicholas Company Inc. now owns 277,855 shares of the company’s stock worth $6,696,000 after buying an additional 2,500 shares during the period. Finally, Confluence Investment Management LLC raised its stake in i3 Verticals by 1.7% in the 4th quarter. Confluence Investment Management LLC now owns 152,989 shares of the company’s stock worth $3,687,000 after purchasing an additional 2,550 shares in the last quarter. 33.15% of the stock is owned by institutional investors and hedge funds.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.

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