Portolan Capital Management LLC Grows Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Portolan Capital Management LLC increased its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 676,135 shares of the company’s stock after purchasing an additional 23,063 shares during the period. i3 Verticals accounts for 1.0% of Portolan Capital Management LLC’s portfolio, making the stock its 29th biggest position. Portolan Capital Management LLC owned approximately 2.02% of i3 Verticals worth $15,578,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of i3 Verticals in the 4th quarter worth about $353,000. Invesco Ltd. boosted its stake in i3 Verticals by 2.6% during the fourth quarter. Invesco Ltd. now owns 25,292 shares of the company’s stock worth $583,000 after acquiring an additional 649 shares in the last quarter. Federated Hermes Inc. grew its holdings in i3 Verticals by 44.8% in the fourth quarter. Federated Hermes Inc. now owns 75,603 shares of the company’s stock worth $1,742,000 after purchasing an additional 23,391 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of i3 Verticals by 6.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 85,153 shares of the company’s stock valued at $1,962,000 after purchasing an additional 4,873 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of i3 Verticals during the fourth quarter valued at approximately $344,000. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

IIIV stock opened at $24.13 on Monday. i3 Verticals, Inc. has a 1 year low of $18.75 and a 1 year high of $29.80. The company has a market cap of $798.08 million, a P/E ratio of 5.37 and a beta of 1.36. The stock’s fifty day moving average price is $25.56 and its 200-day moving average price is $24.29.

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 analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. As a group, analysts expect that i3 Verticals, Inc. will post 0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

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