Geneva Capital Management LLC Trims Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Geneva Capital Management LLC reduced its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,805,378 shares of the company's stock after selling 85,313 shares during the quarter. Geneva Capital Management LLC owned approximately 5.34% of i3 Verticals worth $38,473,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in IIIV. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of i3 Verticals by 10.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,298 shares of the company's stock valued at $992,000 after purchasing an additional 4,075 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of i3 Verticals by 11.7% in the 1st quarter. BNP Paribas Financial Markets now owns 19,920 shares of the company's stock valued at $456,000 after acquiring an additional 2,085 shares during the period. Pitcairn Co. raised its position in i3 Verticals by 14.7% in the 1st quarter. Pitcairn Co. now owns 13,818 shares of the company's stock valued at $316,000 after purchasing an additional 1,767 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in i3 Verticals during the 1st quarter worth $210,000. Finally, Hood River Capital Management LLC boosted its stake in i3 Verticals by 43.1% during the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company's stock worth $25,635,000 after purchasing an additional 337,576 shares during the period. Hedge funds and other institutional investors own 84.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IIIV. Benchmark reiterated a "buy" rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, September 3rd. Stephens reissued an "overweight" rating and issued a $29.00 target price on shares of i3 Verticals in a report on Friday, August 16th. KeyCorp lowered their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, August 12th. DA Davidson restated a "buy" rating and set a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Finally, Raymond James lowered their target price on shares of i3 Verticals from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, i3 Verticals has a consensus rating of "Moderate Buy" and an average target price of $27.14.

i3 Verticals Price Performance

IIIV traded up $0.03 during trading on Wednesday, reaching $25.81. 121,867 shares of the stock were exchanged, compared to its average volume of 220,254. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.01. i3 Verticals, Inc. has a 1 year low of $17.54 and a 1 year high of $26.00. The business's 50 day moving average price is $22.57 and its two-hundred day moving average price is $21.89.

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.