Benchmark Reaffirms Buy Rating for i3 Verticals (NASDAQ:IIIV)

i3 Verticals (NASDAQ:IIIV)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a report issued on Tuesday,Benzinga reports. They presently have a $33.00 price target on the stock. Benchmark’s price objective suggests a potential upside of 35.25% from the stock’s current price.

A number of other brokerages have also commented on IIIV. BMO Capital Markets decreased their target price on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, October 3rd. Raymond James cut their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, August 12th. DA Davidson restated a “buy” rating and set a $32.00 price target on shares of i3 Verticals in a research note on Monday, September 30th. KeyCorp dropped their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Finally, Stephens reiterated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a report on Friday, August 16th. Two equities 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.14.

i3 Verticals Trading Down 1.7 %

NASDAQ:IIIV opened at $24.40 on Tuesday. The firm has a fifty day simple moving average of $22.85 and a two-hundred day simple moving average of $21.95. i3 Verticals has a 12 month low of $17.54 and a 12 month high of $26.00. The stock has a market capitalization of $824.48 million, a price-to-earnings ratio of -271.11 and a beta of 1.53. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01.

Hedge Funds Weigh In On i3 Verticals

Several institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC purchased a new position in i3 Verticals in the second quarter worth $600,000. Confluence Investment Management LLC boosted 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 worth $6,768,000 after buying an additional 155,338 shares during the last quarter. Long Path Partners LP bought a new position in i3 Verticals during the second quarter valued at about $12,756,000. TimesSquare Capital Management LLC purchased a new stake in i3 Verticals during the third quarter worth about $11,373,000. Finally, Mason Capital Management LLC bought a new stake in i3 Verticals in the second quarter worth about $7,443,000. 84.22% of the stock is owned by institutional investors.

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.