Long Path Partners LP Raises Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Long Path Partners LP lifted its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 979,777 shares of the company’s stock after buying an additional 46,679 shares during the quarter. i3 Verticals makes up approximately 7.3% of Long Path Partners LP’s portfolio, making the stock its 6th biggest holding. Long Path Partners LP owned approximately 2.92% of i3 Verticals worth $22,574,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in i3 Verticals in the third quarter worth $109,000. Atom Investors LP bought a new stake in i3 Verticals during the third quarter worth about $218,000. Portolan Capital Management LLC boosted its holdings in shares of i3 Verticals by 3.8% in the 3rd 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 in the last quarter. State Street Corp increased its position 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 valued at $10,569,000 after purchasing an additional 2,664 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of i3 Verticals by 112.3% during the 3rd quarter. Barclays PLC now owns 41,036 shares of the company’s stock valued at $873,000 after buying an additional 21,709 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IIIV shares. KeyCorp upped their target price on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley upped their price target on i3 Verticals from $22.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. DA Davidson raised their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, BMO Capital Markets lifted their price target on i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

i3 Verticals Price Performance

Shares of i3 Verticals stock opened at $25.12 on Thursday. The stock has a market cap of $830.82 million, a price-to-earnings ratio of 5.59 and a beta of 1.52. i3 Verticals, Inc. has a 1 year low of $18.75 and a 1 year high of $29.80. The firm’s 50-day moving average is $25.80 and its 200 day moving average is $24.18.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share 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%. On average, equities analysts expect that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

i3 Verticals 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.