Equitable Trust Co. Takes $746,000 Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Equitable Trust Co. purchased a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,386 shares of the company's stock, valued at approximately $746,000. Equitable Trust Co. owned approximately 0.10% of i3 Verticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IIIV. Long Path Partners LP raised its position in i3 Verticals by 61.5% during the third quarter. Long Path Partners LP now owns 933,098 shares of the company's stock valued at $19,884,000 after purchasing an additional 355,392 shares in the last quarter. Portolan Capital Management LLC grew its stake in shares of i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company's stock worth $13,917,000 after buying an additional 23,921 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of i3 Verticals during the third quarter worth $11,373,000. State Street Corp grew its stake in shares of i3 Verticals by 0.5% during the third quarter. State Street Corp now owns 495,943 shares of the company's stock worth $10,569,000 after buying an additional 2,664 shares during the last quarter. Finally, Royce & Associates LP grew its stake in shares of i3 Verticals by 11.1% during the third quarter. Royce & Associates LP now owns 488,840 shares of the company's stock worth $10,417,000 after buying an additional 48,840 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Benchmark reaffirmed a "buy" rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. KeyCorp boosted their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday. BMO Capital Markets boosted their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a research note on Monday. Stephens reaffirmed an "overweight" rating and set a $29.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. Finally, DA Davidson boosted their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, i3 Verticals currently has an average rating of "Moderate Buy" and a consensus price target of $29.86.

i3 Verticals Price Performance

Shares of i3 Verticals stock traded up $0.29 during trading on Friday, hitting $29.07. The company's stock had a trading volume of 407,699 shares, compared to its average volume of 288,923. i3 Verticals, Inc. has a 52 week low of $18.75 and a 52 week high of $29.80. The stock has a market cap of $975.01 million, a price-to-earnings ratio of 6.47 and a beta of 1.51. The stock has a 50-day moving average price of $24.47 and a two-hundred day moving average price of $23.43.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (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 3.59%. On average, equities analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total value of $444,346.56. Following the transaction, the president now owns 100,000 shares in the company, valued at $2,528,000. The trade was a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 59.07% of the stock is owned by company insiders.

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.