TimesSquare Capital Management LLC Purchases New Shares in i3 Verticals, Inc. (NASDAQ:IIIV)

TimesSquare Capital Management LLC acquired a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 533,680 shares of the company's stock, valued at approximately $11,373,000. TimesSquare Capital Management LLC owned approximately 1.58% of i3 Verticals at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IIIV. Long Path Partners LP acquired a new position in i3 Verticals in the second quarter valued at approximately $12,756,000. Hood River Capital Management LLC raised its stake in shares of i3 Verticals by 43.1% in the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company's stock valued at $25,635,000 after acquiring an additional 337,576 shares during the period. Mason Capital Management LLC acquired a new stake in shares of i3 Verticals in the second quarter valued at $7,443,000. Confluence Investment Management LLC raised its holdings in shares of i3 Verticals by 102.7% in the 2nd quarter. Confluence Investment Management LLC now owns 306,540 shares of the company's stock valued at $6,768,000 after buying an additional 155,338 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in i3 Verticals by 33.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company's stock worth $9,474,000 after acquiring an additional 107,054 shares in the last quarter. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Stock Up 2.7 %

IIIV stock traded up $0.69 during trading on Monday, hitting $25.92. 142,740 shares of the company's stock were exchanged, compared to its average volume of 220,222. The business has a 50-day moving average price of $22.50 and a two-hundred day moving average price of $21.87. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $875.84 million, a price-to-earnings ratio of -288.00 and a beta of 1.53. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $25.96.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.31). i3 Verticals had a negative net margin of 0.01% and a positive return on equity of 5.99%. The company had revenue of $56.04 million during the quarter, compared to analyst estimates of $96.43 million. As a group, equities research analysts expect that i3 Verticals, Inc. will post 0.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Raymond James cut 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. Benchmark reaffirmed a "buy" rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, September 3rd. BMO Capital Markets lowered their target price on i3 Verticals from $23.00 to $21.00 and set a "market perform" rating for the company in a research note on Thursday, October 3rd. Stephens reaffirmed an "overweight" rating and issued a $29.00 price target on shares of i3 Verticals in a research report on Friday, August 16th. Finally, DA Davidson reissued a "buy" rating and set a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Two investment 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.14.

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.