Benchmark Reaffirms Buy Rating for i3 Verticals (NASDAQ:IIIV)

Benchmark reaffirmed their buy rating on shares of i3 Verticals (NASDAQ:IIIV - Free Report) in a report released on Tuesday,Benzinga reports. They currently have a $33.00 price target on the stock.

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

i3 Verticals Stock Down 5.2 %

Shares of IIIV traded down $1.26 during midday trading on Tuesday, reaching $23.14. 251,909 shares of the company were exchanged, compared to its average volume of 221,784. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. i3 Verticals has a 1-year low of $17.54 and a 1-year high of $26.00. The stock has a 50-day moving average price of $22.85 and a 200-day moving average price of $21.95. The company has a market cap of $781.90 million, a price-to-earnings ratio of -271.44 and a beta of 1.53.

Institutional Trading of i3 Verticals

Several large investors have recently added to or reduced their stakes in IIIV. Comerica Bank raised its stake in i3 Verticals by 46.0% during the 1st quarter. Comerica Bank now owns 2,133 shares of the company's stock valued at $49,000 after purchasing an additional 672 shares during the period. Quantbot Technologies LP acquired a new position in shares of i3 Verticals in the third quarter worth $109,000. SG Americas Securities LLC acquired a new position in shares of i3 Verticals in the second quarter worth $116,000. Atom Investors LP acquired a new position in shares of i3 Verticals in the third quarter worth $218,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of i3 Verticals in the second quarter worth $292,000. 84.22% of the stock is owned by institutional investors and hedge funds.

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.