Mcmorgan & Co. LLC Has $3.08 Million Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Mcmorgan & Co. LLC raised its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 28.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,824 shares of the company's stock after acquiring an additional 29,503 shares during the quarter. Mcmorgan & Co. LLC owned approximately 0.40% of i3 Verticals worth $3,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IIIV. KLP Kapitalforvaltning AS bought a new position in i3 Verticals in the fourth quarter valued at $99,000. CIBC Private Wealth Group LLC grew its holdings in shares of i3 Verticals by 52.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock valued at $126,000 after acquiring an additional 1,809 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of i3 Verticals by 688,600.0% in the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company's stock valued at $159,000 after acquiring an additional 6,886 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in i3 Verticals by 26.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company's stock worth $168,000 after acquiring an additional 1,488 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in i3 Verticals by 62.4% during the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company's stock worth $199,000 after acquiring an additional 3,323 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Stock Down 1.1 %

Shares of IIIV traded down $0.29 during trading hours on Friday, hitting $25.23. The company had a trading volume of 41,094 shares, compared to its average volume of 227,228. The firm has a market cap of $834.29 million, a price-to-earnings ratio of 5.61 and a beta of 1.36. The business has a fifty day moving average of $24.99 and a 200-day moving average of $24.48. i3 Verticals, Inc. has a 12 month low of $18.75 and a 12 month high of $29.80.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share 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 3.36%. On average, equities analysts expect that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IIIV. DA Davidson raised their price target on i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, February 10th. KeyCorp upped their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Morgan Stanley lifted their price objective on shares of i3 Verticals from $22.00 to $27.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Finally, BMO Capital Markets upped their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a report on Monday, February 10th. Two equities 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. Based on data from MarketBeat, i3 Verticals has a consensus rating of "Moderate Buy" and a consensus price target of $29.86.

i3 Verticals 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.