Federated Hermes Inc. Buys 23,391 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Federated Hermes Inc. grew its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 44.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,603 shares of the company's stock after acquiring an additional 23,391 shares during the period. Federated Hermes Inc. owned about 0.23% of i3 Verticals worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its position in shares of i3 Verticals by 6.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 85,153 shares of the company's stock valued at $1,962,000 after purchasing an additional 4,873 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in i3 Verticals in the 4th quarter worth approximately $344,000. Wells Fargo & Company MN grew its holdings in i3 Verticals by 38.5% during the 4th quarter. Wells Fargo & Company MN now owns 15,911 shares of the company's stock valued at $367,000 after buying an additional 4,419 shares in the last quarter. Integrated Quantitative Investments LLC bought a new stake in shares of i3 Verticals during the fourth quarter valued at approximately $389,000. Finally, Pitcairn Co. lifted its holdings in shares of i3 Verticals by 4.0% in the fourth quarter. Pitcairn Co. now owns 17,183 shares of the company's stock worth $396,000 after buying an additional 657 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IIIV has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a report on Monday, February 10th. KeyCorp boosted their target price on 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 raised their price target on i3 Verticals from $22.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Finally, DA Davidson upped their price objective on i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Two investment 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.86.

i3 Verticals Stock Up 0.2 %

IIIV traded up $0.05 during trading on Friday, reaching $25.15. The company had a trading volume of 193,660 shares, compared to its average volume of 228,580. 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 $831.81 million, a P/E ratio of 5.60 and a beta of 1.36. The business has a 50 day simple moving average of $25.39 and a 200-day simple moving average of $24.35.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last issued its quarterly earnings results 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%. As a group, equities research analysts expect that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

i3 Verticals 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.