i3 Verticals (NASDAQ:IIIV) Given New $27.00 Price Target at Morgan Stanley

i3 Verticals (NASDAQ:IIIV) had its price target hoisted by research analysts at Morgan Stanley from $22.00 to $27.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 9.00% from the company’s current price.

Other analysts have also recently issued research reports about the company. KeyCorp boosted their price target on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday. DA Davidson boosted their target price on i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Monday. Benchmark reiterated a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. BMO Capital Markets lifted their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday. Finally, Stephens reiterated an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, i3 Verticals currently has an average rating of “Moderate Buy” and an average price target of $29.86.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $29.67 on Wednesday. The company has a market capitalization of $995.13 million, a P/E ratio of 6.61 and a beta of 1.51. The stock’s 50 day moving average price is $24.16 and its 200 day moving average price is $23.32. i3 Verticals has a 52 week low of $18.21 and a 52 week high of $29.80.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. As a group, sell-side analysts forecast that i3 Verticals will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In related news, President Frederick Stanford sold 17,577 shares of i3 Verticals stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction of $444,346.56. Following the sale, the president now directly owns 100,000 shares of the company’s stock, valued at $2,528,000. This trade represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 59.07% of the stock is owned by company insiders.

Institutional Trading of i3 Verticals

A number of institutional investors and hedge funds have recently modified their holdings of IIIV. KLP Kapitalforvaltning AS bought a new position in i3 Verticals in the fourth quarter worth $99,000. Quantbot Technologies LP bought a new position in shares of i3 Verticals during the 3rd quarter worth about $109,000. AlphaQuest LLC boosted its position in shares of i3 Verticals by 688,600.0% during the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock valued at $159,000 after acquiring an additional 6,886 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in i3 Verticals by 26.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company’s stock valued at $168,000 after acquiring an additional 1,488 shares during the period. Finally, SG Americas Securities LLC raised its position in i3 Verticals by 62.4% in the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company’s stock worth $199,000 after purchasing an additional 3,323 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Company Profile

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.