i3 Verticals (NASDAQ:IIIV) PT Lowered to $23.00

i3 Verticals (NASDAQ:IIIV) had its price target trimmed by KeyCorp from $24.00 to $23.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on the company. Stephens reaffirmed an overweight rating and issued a $32.00 target price on shares of i3 Verticals in a research report on Thursday, November 16th. Raymond James dropped their target price on i3 Verticals from $34.00 to $33.00 and set a strong-buy rating on the stock in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, i3 Verticals has an average rating of Buy and a consensus target price of $29.83.

i3 Verticals Stock Performance

Shares of IIIV opened at $20.75 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.24. The firm has a market cap of $691.81 million, a price-to-earnings ratio of -172.92 and a beta of 1.40. i3 Verticals has a 52-week low of $17.87 and a 52-week high of $30.83. The business’s 50 day moving average is $20.19 and its two-hundred day moving average is $22.22.

Institutional Investors Weigh In On i3 Verticals

Hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in i3 Verticals in the 3rd quarter worth about $321,000. Royal Bank of Canada increased its holdings in shares of i3 Verticals by 2.4% during the 3rd quarter. Royal Bank of Canada now owns 531,144 shares of the company’s stock valued at $11,229,000 after acquiring an additional 12,635 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of i3 Verticals by 166.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 621,940 shares of the company’s stock worth $13,148,000 after purchasing an additional 388,721 shares in the last quarter. B. Riley Asset Management LLC acquired a new stake in shares of i3 Verticals during the 3rd quarter worth approximately $2,492,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of i3 Verticals by 63.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock worth $38,000 after buying an additional 703 shares during the period. 64.19% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Company Profile

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, and healthcare markets in the United States. It operates in two segments, Merchant Services, and Proprietary Software and Payments. The company offers payment processing services that enables clients to accept electronic payments, facilitating the exchange of funds and transaction data between clients, financial institutions, and payment networks.