i3 Verticals, Inc. (NASDAQ:IIIV) Shares Sold by Ranger Investment Management L.P.

Ranger Investment Management L.P. cut its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,153,935 shares of the company's stock after selling 19,650 shares during the period. i3 Verticals accounts for about 1.7% of Ranger Investment Management L.P.'s holdings, making the stock its 25th biggest position. Ranger Investment Management L.P. owned approximately 3.44% of i3 Verticals worth $26,587,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Invesco Ltd. increased its stake in i3 Verticals by 2.6% in the fourth quarter. Invesco Ltd. now owns 25,292 shares of the company's stock valued at $583,000 after purchasing an additional 649 shares during the period. Pitcairn Co. increased its position in i3 Verticals by 4.0% in the 4th quarter. Pitcairn Co. now owns 17,183 shares of the company's stock valued at $396,000 after acquiring an additional 657 shares during the period. Sei Investments Co. raised its stake in i3 Verticals by 5.7% during the 4th quarter. Sei Investments Co. now owns 14,294 shares of the company's stock valued at $329,000 after acquiring an additional 770 shares during the last quarter. Swiss National Bank lifted its position in i3 Verticals by 2.0% during the 4th quarter. Swiss National Bank now owns 46,700 shares of the company's stock worth $1,076,000 after acquiring an additional 900 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of i3 Verticals by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company's stock valued at $1,529,000 after purchasing an additional 1,404 shares during the last quarter. 84.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research report on Monday, February 10th. Morgan Stanley lifted their target price on shares of i3 Verticals from $22.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. KeyCorp increased their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, DA Davidson lifted their price objective on i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, i3 Verticals presently has an average rating of "Moderate Buy" and an average target price of $29.86.

i3 Verticals Price Performance

IIIV stock traded down $0.01 on Monday, hitting $24.12. 52,548 shares of the company were exchanged, compared to its average volume of 227,628. The stock has a market capitalization of $797.74 million, a price-to-earnings ratio of 5.37 and a beta of 1.36. i3 Verticals, Inc. has a twelve month low of $18.75 and a twelve month high of $29.80. The business's fifty day moving average is $25.56 and its two-hundred day moving average is $24.29.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.23 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 3.36%. Equities research analysts expect that i3 Verticals, Inc. will post 0.9 earnings per share 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.