i3 Verticals, Inc. (NASDAQ:IIIV) Stake Raised by Pitcairn Co.

Pitcairn Co. raised its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,183 shares of the company’s stock after acquiring an additional 657 shares during the quarter. Pitcairn Co. owned approximately 0.05% of i3 Verticals worth $396,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. ExodusPoint Capital Management LP purchased a new stake in shares of i3 Verticals during the 4th quarter worth about $884,000. Long Path Partners LP lifted its position in shares of i3 Verticals by 5.0% during the 4th quarter. Long Path Partners LP now owns 979,777 shares of the company’s stock worth $22,574,000 after purchasing an additional 46,679 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of i3 Verticals by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 538,057 shares of the company’s stock valued at $12,400,000 after acquiring an additional 3,373 shares during the period. AltraVue Capital LLC bought a new stake in i3 Verticals in the 4th quarter valued at $20,993,000. Finally, Alliancebernstein L.P. lifted its stake in shares of i3 Verticals by 25.3% in the fourth quarter. Alliancebernstein L.P. now owns 16,631 shares of the company’s stock valued at $383,000 after buying an additional 3,360 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Stock Performance

IIIV opened at $23.75 on Friday. i3 Verticals, Inc. has a twelve month low of $18.75 and a twelve month high of $29.80. The firm has a market cap of $785.51 million, a price-to-earnings ratio of 5.29 and a beta of 1.36. The firm’s 50-day simple moving average is $25.80 and its 200-day simple moving average is $24.20.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data 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%. As a group, sell-side analysts anticipate that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IIIV. Morgan Stanley boosted their price objective 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 increased their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, February 10th. KeyCorp lifted their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, BMO Capital Markets increased their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th. Two research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.