Arrowstreet Capital Limited Partnership Purchases Shares of 36,111 i3 Verticals, Inc. (NASDAQ:IIIV)

Arrowstreet Capital Limited Partnership purchased a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 36,111 shares of the company's stock, valued at approximately $832,000. Arrowstreet Capital Limited Partnership owned approximately 0.11% of i3 Verticals at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its stake in shares of i3 Verticals by 0.5% during the 3rd quarter. State Street Corp now owns 495,943 shares of the company's stock worth $10,569,000 after purchasing an additional 2,664 shares in the last quarter. Barclays PLC lifted its stake in i3 Verticals by 112.3% in the third quarter. Barclays PLC now owns 41,036 shares of the company's stock valued at $873,000 after acquiring an additional 21,709 shares during the last quarter. Argent Capital Management LLC grew its position in shares of i3 Verticals by 38.6% in the 4th quarter. Argent Capital Management LLC now owns 22,418 shares of the company's stock valued at $517,000 after acquiring an additional 6,238 shares during the period. SG Americas Securities LLC grew its holdings in i3 Verticals by 62.4% during the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company's stock worth $199,000 after purchasing an additional 3,323 shares during the period. Finally, Equitable Trust Co. acquired a new position in shares of i3 Verticals during the 4th quarter worth approximately $746,000. Institutional investors own 84.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. KeyCorp raised their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Morgan Stanley increased their price objective on i3 Verticals from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. BMO Capital Markets upped their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. Finally, DA Davidson lifted their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.86.

i3 Verticals Price Performance

NASDAQ:IIIV traded down $0.29 during trading hours on Thursday, hitting $24.81. The company's stock had a trading volume of 81,899 shares, compared to its average volume of 227,960. The company has a market capitalization of $820.60 million, a P/E ratio of 5.54 and a beta of 1.36. i3 Verticals, Inc. has a twelve month low of $18.75 and a twelve month high of $29.80. The stock has a fifty day simple moving average of $25.47 and a 200-day simple moving average of $24.33.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. On average, equities analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

i3 Verticals Company Profile

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.