KeyCorp Lowers i3 Verticals (NASDAQ:IIIV) Price Target to $23.00

i3 Verticals (NASDAQ:IIIV) had its price objective lowered by KeyCorp from $24.00 to $23.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on IIIV. Raymond James reduced their price objective on i3 Verticals from $34.00 to $33.00 and set a strong-buy rating on the stock in a research note on Thursday, August 10th. Stephens reissued an overweight rating and issued a $32.00 price target on shares of i3 Verticals in a research note on Thursday, November 16th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Buy and an average target price of $29.83.

i3 Verticals Trading Up 4.6 %

Shares of IIIV stock opened at $20.75 on Friday. The firm’s 50-day simple moving average is $20.19 and its 200-day simple moving average is $22.22. The firm has a market cap of $691.81 million, a P/E ratio of -172.92 and a beta of 1.40. i3 Verticals has a 1-year low of $17.87 and a 1-year high of $30.83. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.00 and a quick ratio of 1.00.

Institutional Investors Weigh In On i3 Verticals

A number of hedge funds have recently modified their holdings of IIIV. BlackRock Inc. grew its stake in i3 Verticals by 0.6% in the second quarter. BlackRock Inc. now owns 1,570,612 shares of the company’s stock valued at $35,904,000 after purchasing an additional 8,933 shares in the last quarter. Wellington Management Group LLP grew its stake in i3 Verticals by 27.6% in the first quarter. Wellington Management Group LLP now owns 1,349,231 shares of the company’s stock valued at $37,591,000 after purchasing an additional 291,836 shares in the last quarter. Vanguard Group Inc. grew its stake in i3 Verticals by 12.0% in the third quarter. Vanguard Group Inc. now owns 1,292,708 shares of the company’s stock valued at $25,894,000 after purchasing an additional 138,952 shares in the last quarter. Ranger Investment Management L.P. grew its stake in i3 Verticals by 5.6% in the second quarter. Ranger Investment Management L.P. now owns 1,067,730 shares of the company’s stock valued at $24,408,000 after purchasing an additional 56,394 shares in the last quarter. Finally, Voss Capital LLC boosted its stake in shares of i3 Verticals by 36.9% during the 3rd quarter. Voss Capital LLC now owns 937,083 shares of the company’s stock worth $19,810,000 after acquiring an additional 252,439 shares during the period. Institutional investors and hedge funds own 64.19% of the company’s stock.

i3 Verticals Company Profile

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, and healthcare markets in the United States. It operates in two segments, Merchant Services, and Proprietary Software and Payments. The company offers payment processing services that enables clients to accept electronic payments, facilitating the exchange of funds and transaction data between clients, financial institutions, and payment networks.