i3 Verticals (NASDAQ:IIIV) Reaches New 1-Year High - What's Next?

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $26.00 and last traded at $25.84, with a volume of 2404 shares traded. The stock had previously closed at $25.78.

Analysts Set New Price Targets

A number of brokerages have weighed in on IIIV. DA Davidson reissued a "buy" rating and set a $32.00 price target on shares of i3 Verticals in a research report on Monday, September 30th. KeyCorp decreased their target price on i3 Verticals from $28.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, August 12th. BMO Capital Markets decreased their target price on i3 Verticals from $23.00 to $21.00 and set a "market perform" rating on the stock in a research report on Thursday, October 3rd. Raymond James decreased their target price on i3 Verticals from $31.00 to $28.00 and set a "strong-buy" rating on the stock in a research report on Monday, August 12th. Finally, Benchmark reaffirmed a "buy" rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, i3 Verticals currently has an average rating of "Moderate Buy" and a consensus price target of $27.14.

i3 Verticals Stock Performance

The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a 50-day moving average of $22.57 and a 200-day moving average of $21.89.

Institutional Investors Weigh In On i3 Verticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank lifted its stake in shares of i3 Verticals by 46.0% in the 1st quarter. Comerica Bank now owns 2,133 shares of the company's stock valued at $49,000 after acquiring an additional 672 shares during the last quarter. Select Equity Group L.P. increased its holdings in i3 Verticals by 1.8% in the second quarter. Select Equity Group L.P. now owns 65,730 shares of the company's stock valued at $1,451,000 after purchasing an additional 1,147 shares during the period. Pitcairn Co. increased its holdings in i3 Verticals by 14.7% in the first 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 period. Victory Capital Management Inc. increased its holdings in i3 Verticals by 4.5% in the second quarter. Victory Capital Management Inc. now owns 45,700 shares of the company's stock valued at $1,009,000 after purchasing an additional 1,950 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in i3 Verticals by 11.7% in the first quarter. BNP Paribas Financial Markets now owns 19,920 shares of the company's stock valued at $456,000 after purchasing an additional 2,085 shares during the period. 84.22% of the stock is currently owned by institutional investors.

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.