i3 Verticals (NASDAQ:IIIV) Now Covered by Stephens

Stock analysts at Stephens began coverage on shares of i3 Verticals (NASDAQ:IIIV) in a report released on Friday, Benzinga reports. The brokerage set an “equal weight” rating and a $23.00 price target on the stock. Stephens‘s price target points to a potential upside of 23.39% from the company’s current price.

A number of other brokerages have also recently commented on IIIV. Benchmark cut shares of i3 Verticals from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. KeyCorp decreased their target price on shares of i3 Verticals from $27.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. Weiss Ratings downgraded shares of i3 Verticals from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Finally, DA Davidson dropped their price target on shares of i3 Verticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

i3 Verticals Trading Down 4.8%

Shares of NASDAQ:IIIV opened at $18.64 on Friday. i3 Verticals has a 12-month low of $13.63 and a 12-month high of $29.69. The company has a market capitalization of $490.60 million, a PE ratio of 49.05 and a beta of 0.79. The business has a 50 day moving average of $16.34 and a two-hundred day moving average of $19.66. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On i3 Verticals

A number of hedge funds have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. grew its holdings in i3 Verticals by 32.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,032,606 shares of the company’s stock valued at $23,089,000 after purchasing an additional 255,079 shares during the period. North Reef Capital Management LP increased its holdings in i3 Verticals by 1,253.8% in the 1st quarter. North Reef Capital Management LP now owns 1,025,000 shares of the company’s stock worth $22,919,000 after acquiring an additional 949,289 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in i3 Verticals by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 616,851 shares of the company’s stock worth $13,794,000 after acquiring an additional 68,573 shares in the last quarter. Heartland Advisors Inc. raised its position in i3 Verticals by 11.1% during the first quarter. Heartland Advisors Inc. now owns 606,950 shares of the company’s stock worth $13,571,000 after acquiring an additional 60,400 shares during the period. Finally, Wasatch Advisors LP raised its position in i3 Verticals by 7.3% during the second quarter. Wasatch Advisors LP now owns 377,435 shares of the company’s stock worth $8,062,000 after acquiring an additional 25,631 shares during the period. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Company Profile

i3 Verticals is a software company that develops technology for specialized markets, with a focus on public-sector organizations. Its products support functions such as utility billing, court and government operations, and payment collection. The company has also served customers in education and other markets, offering software designed to manage sector-specific administrative and operational needs. Its solutions can include integrated payment capabilities that help organizations process transactions through their software systems.