i3 Verticals (IIIV) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of i3 Verticals (NASDAQ:IIIV) from a strong-buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “i3 Verticals, Inc. provides payment and software solutions. The Company offers electronic payment services to education, non-profit, public sector, property management and health care industries. i3 Verticals, Inc. is based in TN, United States. “

A number of other brokerages also recently issued reports on IIIV. Raymond James lifted their price target on i3 Verticals from $19.00 to $23.00 and gave the stock an outperform rating in a report on Friday, November 30th. KeyCorp lifted their price target on i3 Verticals from $21.00 to $22.00 and gave the stock an overweight rating in a report on Monday, October 15th. Finally, DA Davidson initiated coverage on i3 Verticals in a report on Wednesday, October 24th. They set a buy rating and a $26.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $23.20.

Shares of NASDAQ IIIV traded up $0.73 during trading on Thursday, reaching $21.91. The stock had a trading volume of 1,301 shares, compared to its average volume of 70,864. i3 Verticals has a fifty-two week low of $13.79 and a fifty-two week high of $25.50. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $569.86 million and a PE ratio of 38.18.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Thursday, November 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $28.10 million during the quarter, compared to the consensus estimate of $29.64 million. On average, equities analysts predict that i3 Verticals will post 0.8 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. American International Group Inc. acquired a new stake in shares of i3 Verticals during the third quarter worth about $118,000. Russell Investments Group Ltd. acquired a new stake in shares of i3 Verticals during the second quarter worth about $149,000. Teachers Advisors LLC acquired a new stake in shares of i3 Verticals during the third quarter worth about $232,000. Gabelli Funds LLC acquired a new stake in shares of i3 Verticals during the third quarter worth about $253,000. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of i3 Verticals by 77.7% during the third quarter. Mesirow Financial Investment Management Inc. now owns 27,346 shares of the company’s stock worth $628,000 after purchasing an additional 11,956 shares in the last quarter. Institutional investors and hedge funds own 25.08% of the company’s stock.

i3 Verticals Company Profile

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses (SMBs) 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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