i3 Verticals, Inc. (NASDAQ:IIIV) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lowered its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 46.6% during the fourth quarter, HoldingsChannel reports. The firm owned 4,296 shares of the company’s stock after selling 3,756 shares during the quarter. Tower Research Capital LLC TRC’s holdings in i3 Verticals were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. AltraVue Capital LLC acquired a new stake in shares of i3 Verticals in the fourth quarter valued at about $20,993,000. Raymond James Financial Inc. purchased a new position in i3 Verticals in the fourth quarter valued at about $13,313,000. Legato Capital Management LLC purchased a new position in i3 Verticals in the fourth quarter valued at about $4,233,000. New York State Common Retirement Fund lifted its position in shares of i3 Verticals by 1,855.9% during the 4th quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock valued at $4,051,000 after acquiring an additional 166,843 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC boosted its stake in shares of i3 Verticals by 32.3% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 276,530 shares of the company’s stock worth $6,371,000 after acquiring an additional 67,489 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Wall Street Analysts Forecast Growth

IIIV has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. DA Davidson increased their price target on shares of i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, February 10th. KeyCorp lifted their price objective on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, BMO Capital Markets increased their target price on i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

i3 Verticals Stock Down 4.6 %

Shares of IIIV stock opened at $25.66 on Friday. i3 Verticals, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $29.80. The firm’s 50 day moving average price is $24.74 and its two-hundred day moving average price is $24.69. The stock has a market cap of $848.68 million, a price-to-earnings ratio of 5.71 and a beta of 1.31.

i3 Verticals (NASDAQ:IIIV) last announced its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share 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%. On average, equities analysts forecast that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

i3 Verticals Profile

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.