Royce & Associates LP Raises Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Royce & Associates LP increased its holdings in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,840 shares of the company's stock after acquiring an additional 48,840 shares during the quarter. Royce & Associates LP owned about 1.45% of i3 Verticals worth $10,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Hood River Capital Management LLC boosted its holdings in i3 Verticals by 6.3% in the second quarter. Hood River Capital Management LLC now owns 1,190,184 shares of the company's stock worth $26,279,000 after acquiring an additional 70,253 shares in the last quarter. Long Path Partners LP purchased a new position in shares of i3 Verticals in the 2nd quarter worth about $12,756,000. TimesSquare Capital Management LLC bought a new position in i3 Verticals in the 3rd quarter worth about $11,373,000. Dimensional Fund Advisors LP grew its position in i3 Verticals by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 484,494 shares of the company's stock valued at $10,698,000 after purchasing an additional 13,880 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in i3 Verticals by 33.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company's stock valued at $9,474,000 after purchasing an additional 107,054 shares in the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stephens reiterated an "overweight" rating and issued a $29.00 target price on shares of i3 Verticals in a research note on Friday, August 16th. Raymond James cut their target price on i3 Verticals from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research note on Monday, August 12th. DA Davidson restated a "buy" rating and issued a $32.00 price target on shares of i3 Verticals in a research note on Monday, September 30th. BMO Capital Markets lowered their price target on i3 Verticals from $23.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, October 3rd. Finally, KeyCorp reduced their price objective on i3 Verticals from $28.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, i3 Verticals presently has an average rating of "Moderate Buy" and a consensus target price of $27.14.

i3 Verticals Stock Performance

Shares of NASDAQ:IIIV traded down $0.05 during trading on Friday, hitting $24.82. The company's stock had a trading volume of 152,974 shares, compared to its average volume of 170,783. The company has a 50-day moving average of $22.79 and a 200-day moving average of $21.94. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market cap of $838.67 million, a price-to-earnings ratio of -275.78 and a beta of 1.53. i3 Verticals, Inc. has a 12 month low of $17.54 and a 12 month high of $26.00.

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.