Research analysts at Bank of America assumed coverage on shares of i3 Verticals (NASDAQ:IIIV) in a research report issued on Tuesday, MarketBeat.com reports. The firm set a “neutral” rating and a $23.00 price target on the stock. Bank of America‘s target price indicates a potential upside of 4.12% from the stock’s current price.
Several other equities research analysts have also recently issued reports on IIIV. Zacks Investment Research raised shares of i3 Verticals from a “sell” rating to a “hold” rating in a research report on Tuesday. KeyCorp raised their target price on shares of i3 Verticals from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday. ValuEngine cut shares of i3 Verticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, BTIG Research set a $31.00 target price on shares of i3 Verticals and gave the stock a “buy” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $26.33.
IIIV opened at $22.09 on Tuesday. The business has a 50 day moving average of $27.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.58 and a quick ratio of 0.58. i3 Verticals has a 1 year low of $15.15 and a 1 year high of $31.44. The firm has a market capitalization of $566.33 million, a PE ratio of 39.45, a PEG ratio of 1.53 and a beta of 0.22.
i3 Verticals (NASDAQ:IIIV) last released its earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. i3 Verticals had a negative net margin of 0.36% and a positive return on equity of 15.38%. The business had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.02 million. During the same period last year, the company earned $0.14 earnings per share. The company’s quarterly revenue was up 24.9% on a year-over-year basis. On average, research analysts expect that i3 Verticals will post 0.7 earnings per share for the current year.
In other i3 Verticals news, Director David K. Morgan purchased 2,000 shares of i3 Verticals stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $21.35 per share, with a total value of $42,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Frederick Stanford sold 25,000 shares of i3 Verticals stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $23.47, for a total transaction of $586,750.00. The disclosure for this sale can be found here. Insiders own 56.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Confluence Investment Management LLC lifted its position in i3 Verticals by 73.1% during the first quarter. Confluence Investment Management LLC now owns 264,770 shares of the company’s stock valued at $6,359,000 after buying an additional 111,781 shares in the last quarter. Northern Trust Corp raised its stake in shares of i3 Verticals by 0.8% during the fourth quarter. Northern Trust Corp now owns 97,259 shares of the company’s stock valued at $2,344,000 after purchasing an additional 794 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of i3 Verticals by 291.3% during the first quarter. Assenagon Asset Management S.A. now owns 54,100 shares of the company’s stock valued at $1,299,000 after purchasing an additional 40,274 shares during the period. Spark Investment Management LLC raised its stake in shares of i3 Verticals by 138.4% during the first quarter. Spark Investment Management LLC now owns 98,710 shares of the company’s stock valued at $2,371,000 after purchasing an additional 57,310 shares during the period. Finally, BlackRock Inc. raised its stake in shares of i3 Verticals by 18.7% during the fourth quarter. BlackRock Inc. now owns 692,845 shares of the company’s stock valued at $16,696,000 after purchasing an additional 109,385 shares during the period. 37.85% of the stock is currently owned by hedge funds and other institutional investors.
About i3 Verticals
i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.
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