i3 Verticals (NASDAQ:IIIV) Price Target Cut to $20.00

i3 Verticals (NASDAQ:IIIVGet Free Report) had its price target decreased by analysts at Morgan Stanley from $25.00 to $20.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 3.36% from the company’s current price.

A number of other equities research analysts also recently issued reports on IIIV. BMO Capital Markets decreased their price target on shares of i3 Verticals from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday. Stephens reaffirmed an “overweight” rating and set a $32.00 price target on shares of i3 Verticals in a research note on Thursday, November 16th. Finally, KeyCorp reduced their target price on shares of i3 Verticals from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.83.

View Our Latest Research Report on IIIV

i3 Verticals Stock Performance

Shares of NASDAQ IIIV traded up $0.77 during trading on Monday, reaching $19.35. 269,977 shares of the company traded hands, compared to its average volume of 165,885. The firm has a 50 day simple moving average of $20.11 and a 200-day simple moving average of $20.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $645.63 million, a PE ratio of -276.43 and a beta of 1.53. i3 Verticals has a 52-week low of $17.54 and a 52-week high of $27.44.

i3 Verticals (NASDAQ:IIIVGet Free Report) last released its quarterly earnings data on Wednesday, November 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). i3 Verticals had a net margin of 0.14% and a return on equity of 9.42%. The company had revenue of $96.41 million for the quarter, compared to the consensus estimate of $97.16 million. Equities research analysts anticipate that i3 Verticals will post 1.01 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new position in shares of i3 Verticals in the third quarter worth about $6,807,000. Raymond James & Associates grew its holdings in shares of i3 Verticals by 28.7% in the third quarter. Raymond James & Associates now owns 77,660 shares of the company’s stock worth $1,642,000 after purchasing an additional 17,297 shares during the last quarter. Heartland Advisors Inc. grew its holdings in i3 Verticals by 4.9% during the 3rd quarter. Heartland Advisors Inc. now owns 537,310 shares of the company’s stock worth $11,359,000 after acquiring an additional 25,160 shares in the last quarter. Boston Partners bought a new position in i3 Verticals during the 3rd quarter worth about $978,000. Finally, Bank of New York Mellon Corp grew its holdings in i3 Verticals by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 114,906 shares of the company’s stock worth $2,429,000 after acquiring an additional 1,749 shares in the last quarter. 64.19% of the stock is currently owned by institutional investors.

i3 Verticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for i3 Verticals (NASDAQ:IIIV)

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