i3 Verticals (NASDAQ:IIIV) Shares Gap Down - Time to Sell?

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $24.40, but opened at $23.44. i3 Verticals shares last traded at $24.58, with a volume of 6,823 shares trading hands.

Wall Street Analysts Forecast Growth

IIIV has been the topic of several research analyst reports. Benchmark reiterated a "buy" rating and issued a $33.00 price target on shares of i3 Verticals in a research note on Tuesday. DA Davidson reaffirmed a "buy" rating and issued a $32.00 price objective on shares of i3 Verticals in a research note on Monday, September 30th. Stephens reiterated an "overweight" rating and set a $29.00 target price on shares of i3 Verticals in a research report on Tuesday. Raymond James decreased their price target on shares of 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. Finally, 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. Two equities research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.14.

i3 Verticals Price 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 company has a market capitalization of $788.32 million, a P/E ratio of -271.44 and a beta of 1.53. The firm's fifty day moving average is $22.85 and its 200 day moving average is $21.95.

Institutional Investors Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently modified their holdings of IIIV. Comerica Bank grew its holdings in shares of i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company's stock worth $49,000 after purchasing an additional 672 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of i3 Verticals in the third quarter valued at approximately $109,000. SG Americas Securities LLC purchased a new position in i3 Verticals during the 2nd quarter worth $116,000. EntryPoint Capital LLC bought a new stake in i3 Verticals during the 1st quarter valued at $210,000. Finally, Atom Investors LP purchased a new stake in shares of i3 Verticals in the 3rd quarter worth $218,000. 84.22% of the stock is 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.

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