New York State Common Retirement Fund Boosts Stock Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

New York State Common Retirement Fund lifted its holdings in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 1,855.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,833 shares of the company's stock after acquiring an additional 166,843 shares during the period. New York State Common Retirement Fund owned approximately 0.52% of i3 Verticals worth $4,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IIIV. Quantbot Technologies LP bought a new stake in i3 Verticals in the 3rd quarter valued at about $109,000. SG Americas Securities LLC increased its position in i3 Verticals by 62.4% in the 4th quarter. SG Americas Securities LLC now owns 8,646 shares of the company's stock valued at $199,000 after buying an additional 3,323 shares in the last quarter. Atom Investors LP bought a new stake in i3 Verticals in the 3rd quarter valued at about $218,000. Bares Capital Management Inc. bought a new stake in i3 Verticals in the 3rd quarter valued at about $334,000. Finally, Argent Capital Management LLC increased its position in i3 Verticals by 38.6% in the 4th quarter. Argent Capital Management LLC now owns 22,418 shares of the company's stock valued at $517,000 after buying an additional 6,238 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. DA Davidson boosted their target price on i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Benchmark reiterated a "buy" rating and set a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. Stephens reiterated an "overweight" rating and set a $29.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. BMO Capital Markets lifted their price target on i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. Finally, Morgan Stanley lifted their price target on i3 Verticals from $22.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.86.

i3 Verticals Price Performance

Shares of NASDAQ IIIV traded down $0.50 during midday trading on Monday, reaching $25.43. The company's stock had a trading volume of 117,933 shares, compared to its average volume of 259,893. i3 Verticals, Inc. has a 12-month low of $18.75 and a 12-month high of $29.80. The firm has a 50 day moving average price of $25.40 and a 200-day moving average price of $23.76. The stock has a market capitalization of $841.07 million, a P/E ratio of 5.66 and a beta of 1.51.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.36% and a net margin of 41.85%. On average, equities analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current year.

About i3 Verticals

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.