Morgan Stanley Forecasts Strong Price Appreciation for i3 Verticals (NASDAQ:IIIV) Stock

i3 Verticals (NASDAQ:IIIV - Free Report) had its price objective increased by Morgan Stanley from $22.00 to $27.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. KeyCorp increased their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. BMO Capital Markets raised their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. Benchmark restated a "buy" rating and issued a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. DA Davidson raised their price target 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. Finally, Stephens restated an "overweight" rating and issued a $29.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.86.

i3 Verticals Trading Up 1.0 %

IIIV traded up $0.29 on Wednesday, hitting $29.07. 407,699 shares of the company's stock were exchanged, compared to its average volume of 223,328. The firm has a market cap of $975.01 million, a PE ratio of 6.47 and a beta of 1.51. i3 Verticals has a twelve month low of $18.75 and a twelve month high of $29.80. The stock has a fifty day moving average of $24.47 and a two-hundred day moving average of $23.43.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. On average, analysts predict that i3 Verticals will post 0.9 EPS for the current year.

Insider Activity

In other news, President Frederick Stanford sold 17,577 shares of the stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 100,000 shares in the company, valued at $2,528,000. This trade represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 59.07% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IIIV. Johnson Financial Group Inc. bought a new stake in i3 Verticals during the fourth quarter worth approximately $72,000. KLP Kapitalforvaltning AS bought a new stake in i3 Verticals during the fourth quarter worth approximately $99,000. Quantbot Technologies LP bought a new stake in i3 Verticals during the third quarter worth approximately $109,000. CIBC Private Wealth Group LLC boosted its holdings in i3 Verticals by 52.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock worth $126,000 after buying an additional 1,809 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in i3 Verticals by 688,600.0% during the fourth quarter. AlphaQuest LLC now owns 6,887 shares of the company's stock worth $159,000 after buying an additional 6,886 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors.

About i3 Verticals

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.