AltraVue Capital LLC Buys New Shares in i3 Verticals, Inc. (NASDAQ:IIIV)

AltraVue Capital LLC purchased a new position in i3 Verticals, Inc. (NASDAQ:IIIV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 911,146 shares of the company’s stock, valued at approximately $20,993,000. i3 Verticals comprises approximately 1.7% of AltraVue Capital LLC’s holdings, making the stock its 22nd largest position. AltraVue Capital LLC owned 2.72% of i3 Verticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of IIIV. Vanguard Group Inc. boosted its position in shares of i3 Verticals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company’s stock worth $30,544,000 after acquiring an additional 19,342 shares during the last quarter. Portolan Capital Management LLC raised its stake in i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after purchasing an additional 23,921 shares during the period. Raymond James Financial Inc. acquired a new position in shares of i3 Verticals in the 4th quarter valued at $13,313,000. Royce & Associates LP grew its stake in shares of i3 Verticals by 10.7% during the 4th quarter. Royce & Associates LP now owns 541,350 shares of the company’s stock valued at $12,473,000 after buying an additional 52,510 shares during the period. Finally, State Street Corp increased its holdings in shares of i3 Verticals by 0.5% during the 3rd quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after buying an additional 2,664 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Stock Up 0.3 %

IIIV opened at $24.67 on Tuesday. The firm’s 50 day moving average is $25.77 and its 200-day moving average is $24.15. i3 Verticals, Inc. has a 52-week low of $18.75 and a 52-week high of $29.80. The firm has a market capitalization of $815.94 million, a P/E ratio of 5.49 and a beta of 1.52.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.36% and a net margin of 41.85%. Equities analysts expect that i3 Verticals, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IIIV has been the topic of a number of research analyst reports. BMO Capital Markets lifted their target price on i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, February 10th. 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, February 10th. Morgan Stanley raised their price target on shares of i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, KeyCorp boosted their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, i3 Verticals currently has a consensus rating of “Moderate Buy” and an average price target of $29.86.

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.