i3 Verticals (NASDAQ:IIIV) Price Target Raised to $34.00 at DA Davidson

i3 Verticals (NASDAQ:IIIV - Get Free Report) had its target price upped by stock analysts at DA Davidson from $32.00 to $34.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's target price would indicate a potential upside of 17.74% from the stock's current price.

IIIV has been the subject of a number of other research reports. Benchmark reiterated a "buy" rating and issued a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. KeyCorp raised their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday. BMO Capital Markets boosted their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a report on Monday. Finally, Stephens reaffirmed an "overweight" rating and issued a $29.00 price objective on shares of i3 Verticals in a research note on Tuesday, November 19th. Two investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.86.

i3 Verticals Trading Down 0.2 %

Shares of NASDAQ IIIV traded down $0.05 during midday trading on Monday, reaching $28.88. The company's stock had a trading volume of 71,572 shares, compared to its average volume of 282,390. i3 Verticals has a one year low of $18.75 and a one year high of $29.80. The company has a market cap of $968.53 million, a price-to-earnings ratio of 6.44 and a beta of 1.51. The company has a 50 day moving average price of $24.25 and a 200 day moving average price of $23.36.

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

Insider Buying and Selling

In related news, President Frederick Stanford sold 17,577 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the sale, the president now directly owns 100,000 shares in the company, valued at approximately $2,528,000. This trade represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 59.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in i3 Verticals in the second quarter worth approximately $292,000. Argent Capital Management LLC increased its stake in shares of i3 Verticals by 15.0% during the 3rd quarter. Argent Capital Management LLC now owns 16,180 shares of the company's stock worth $345,000 after purchasing an additional 2,114 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in shares of i3 Verticals during the 3rd quarter valued at $11,373,000. Victory Capital Management Inc. lifted its stake in shares of i3 Verticals by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 48,500 shares of the company's stock valued at $1,034,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in i3 Verticals by 11.1% in the third quarter. Royce & Associates LP now owns 488,840 shares of the company's stock worth $10,417,000 after purchasing an additional 48,840 shares in the last quarter. 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.