ExodusPoint Capital Management LP Buys Shares of 38,374 i3 Verticals, Inc. (NASDAQ:IIIV)

ExodusPoint Capital Management LP acquired a new position in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,374 shares of the company's stock, valued at approximately $884,000. ExodusPoint Capital Management LP owned about 0.11% of i3 Verticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IIIV. State Street Corp raised its holdings 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 valued at $10,569,000 after purchasing an additional 2,664 shares in the last quarter. Barclays PLC increased its holdings in shares of i3 Verticals by 112.3% during the 3rd 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 raised its stake 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 in the last quarter. SG Americas Securities LLC boosted its position 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. bought a new position in shares of i3 Verticals in the fourth quarter valued at approximately $746,000. Institutional investors own 84.22% of the company's stock.

Analysts Set New Price Targets

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

i3 Verticals Stock Performance

i3 Verticals stock traded up $0.14 during trading hours on Wednesday, hitting $25.05. 17,419 shares of the stock were exchanged, compared to its average volume of 227,501. The stock has a market capitalization of $828.34 million, a P/E ratio of 5.56 and a beta of 1.36. i3 Verticals, Inc. has a 12 month low of $18.75 and a 12 month high of $29.80. The business's 50-day moving average is $25.53 and its two-hundred day moving average is $24.32.

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 analysts' consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.36% and a net margin of 41.85%. On average, equities analysts predict that i3 Verticals, Inc. will post 0.9 earnings per share 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.