i3 Verticals (NASDAQ:IIIV) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of i3 Verticals (NASDAQ:IIIV) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

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. “

Several other equities research analysts also recently issued reports on the company. KeyCorp raised their price target on i3 Verticals from $26.00 to $28.00 and gave the company an overweight rating in a report on Monday, August 12th. ValuEngine downgraded i3 Verticals from a buy rating to a hold rating in a report on Tuesday, August 6th. Finally, BTIG Research set a $31.00 price target on i3 Verticals and gave the company a buy rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $26.33.

NASDAQ:IIIV opened at $22.81 on Tuesday. i3 Verticals has a 1-year low of $15.15 and a 1-year high of $31.44. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $27.63 and a 200 day simple moving average of $24.87. The stock has a market capitalization of $585.92 million, a PE ratio of 40.73, a P/E/G ratio of 1.53 and a beta of 0.22.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. i3 Verticals had a positive return on equity of 15.38% and a negative net margin of 0.36%. The business had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.02 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities analysts predict that i3 Verticals will post 0.69 earnings per share for the current fiscal year.

In other i3 Verticals news, Director David K. Morgan purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $21.35 per share, with a total value of $42,700.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory S. Daily purchased 84,800 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average cost of $23.49 per share, with a total value of $1,991,952.00. The disclosure for this purchase can be found here. Company insiders own 56.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Confluence Investment Management LLC lifted its holdings in i3 Verticals by 73.1% during the 1st quarter. Confluence Investment Management LLC now owns 264,770 shares of the company’s stock valued at $6,359,000 after purchasing an additional 111,781 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of i3 Verticals by 28.3% during the second quarter. Kornitzer Capital Management Inc. KS now owns 68,000 shares of the company’s stock worth $2,003,000 after buying an additional 15,000 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 worth $1,299,000 after buying an additional 40,274 shares in the last quarter. Northern Trust Corp lifted its holdings 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 worth $2,344,000 after buying an additional 794 shares in the last quarter. Finally, Spark Investment Management LLC lifted its holdings 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 worth $2,371,000 after buying an additional 57,310 shares in the last quarter. 37.85% of the stock is owned by institutional investors and hedge funds.

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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