i3 Verticals (NASDAQ:IIIV) had its price target lifted by KeyCorp from $26.00 to $28.00 in a research report sent to investors on Monday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock. KeyCorp also issued estimates for i3 Verticals’ Q4 2019 earnings at $0.19 EPS, Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.20 EPS, Q4 2020 earnings at $0.17 EPS and FY2020 earnings at $0.70 EPS.
Several other analysts have also issued reports on IIIV. Zacks Investment Research lowered shares of i3 Verticals from a hold rating to a strong sell rating in a research report on Tuesday, August 6th. BTIG Research restated a buy rating and set a $31.00 target price (up from $27.00) on shares of i3 Verticals in a research report on Monday, June 24th. Finally, ValuEngine lowered shares of i3 Verticals from a buy rating to a hold rating in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. i3 Verticals currently has an average rating of Buy and a consensus target price of $26.33.
Shares of NASDAQ IIIV opened at $22.56 on Monday. The firm has a 50 day moving average of $27.77 and a 200 day moving average of $24.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $585.92 million, a price-to-earnings ratio of 40.43, a price-to-earnings-growth ratio of 1.53 and a beta of 0.22. i3 Verticals has a 12-month low of $15.15 and a 12-month high of $31.44.
In other news, CEO Gregory S. Daily purchased 84,800 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $23.49 per share, for a total transaction of $1,991,952.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David K. Morgan purchased 2,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $21.35 per share, with a total value of $42,700.00. The disclosure for this purchase can be found here. Insiders own 56.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the business. TimesSquare Capital Management LLC bought a new position in shares of i3 Verticals in the second quarter worth approximately $33,773,000. BlackRock Inc. boosted its position in shares of i3 Verticals by 3.4% in the second quarter. BlackRock Inc. now owns 782,207 shares of the company’s stock worth $23,036,000 after purchasing an additional 25,588 shares during the period. Vanguard Group Inc. boosted its position in shares of i3 Verticals by 56.9% in the second quarter. Vanguard Group Inc. now owns 619,909 shares of the company’s stock worth $18,256,000 after purchasing an additional 224,833 shares during the period. Nicholas Company Inc. boosted its position in shares of i3 Verticals by 7.3% in the second quarter. Nicholas Company Inc. now owns 297,560 shares of the company’s stock worth $8,763,000 after purchasing an additional 20,160 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new position in shares of i3 Verticals in the second quarter worth approximately $8,678,000. Institutional investors and hedge funds own 37.85% of the company’s stock.
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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