i3 Verticals' (IIIV) "Overweight" Rating Reaffirmed at Stephens

i3 Verticals (NASDAQ:IIIV - Get Free Report)'s stock had its "overweight" rating reiterated by investment analysts at Stephens in a report issued on Tuesday,Benzinga reports. They presently have a $29.00 price objective on the stock. Stephens' target price would indicate a potential upside of 25.05% from the company's previous close.

A number of other brokerages have also weighed in on IIIV. 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. BMO Capital Markets decreased their price objective 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. Benchmark restated a "buy" rating and issued a $33.00 price target on shares of i3 Verticals in a research report on Tuesday. KeyCorp dropped their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, August 12th. Finally, Raymond James dropped their price target on i3 Verticals from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.14.

i3 Verticals Price Performance

IIIV traded down $1.21 on Tuesday, hitting $23.19. 305,249 shares of the company's stock traded hands, compared to its average volume of 222,022. i3 Verticals has a one year low of $17.54 and a one year high of $26.00. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. The firm has a market cap of $783.59 million, a price-to-earnings ratio of -257.67 and a beta of 1.53. The company's 50 day simple moving average is $22.88 and its 200-day simple moving average is $21.96.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IIIV. Barclays PLC boosted its stake in shares of i3 Verticals by 112.3% during the third quarter. Barclays PLC now owns 41,036 shares of the company's stock valued at $873,000 after purchasing an additional 21,709 shares in the last quarter. Bares Capital Management Inc. purchased a new stake in shares of i3 Verticals in the third quarter worth about $334,000. ABS Direct Equity Fund LLC lifted its stake in shares of i3 Verticals by 40.0% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 35,000 shares of the company's stock valued at $746,000 after purchasing an additional 10,000 shares during the period. State Street Corp boosted its stake 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 worth $10,569,000 after acquiring an additional 2,664 shares in the last quarter. Finally, Portolan Capital Management LLC boosted its position in i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company's stock worth $13,917,000 after purchasing an additional 23,921 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company's stock.

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.