Morgan Stanley Cuts i3 Verticals (NASDAQ:IIIV) Price Target to $25.00

i3 Verticals (NASDAQ:IIIV) had its target price lowered by Morgan Stanley from $26.00 to $25.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts have also recently commented on IIIV. Stephens restated an overweight rating and set a $32.00 price objective on shares of i3 Verticals in a research note on Thursday, November 16th. Raymond James reduced their target price on i3 Verticals from $34.00 to $33.00 and set a strong-buy rating for the company in a research note on Thursday, August 10th. Finally, KeyCorp reduced their price objective on shares of i3 Verticals from $24.00 to $23.00 and set an overweight rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, i3 Verticals presently has an average rating of Buy and an average price target of $29.83.

i3 Verticals Stock Up 4.6 %

Shares of NASDAQ:IIIV opened at $20.75 on Friday. i3 Verticals has a 52-week low of $17.87 and a 52-week high of $30.83. The company has a market capitalization of $691.81 million, a P/E ratio of -172.92 and a beta of 1.40. The stock’s fifty day simple moving average is $20.19 and its 200-day simple moving average is $22.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.24.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Voss Capital LLC acquired a new stake in i3 Verticals during the first quarter worth about $10,602,000. Bank of Montreal Can bought a new stake in i3 Verticals in the second quarter valued at $9,396,000. Ameriprise Financial Inc. grew its position in shares of i3 Verticals by 166.7% during the third quarter. Ameriprise Financial Inc. now owns 621,940 shares of the company’s stock worth $13,148,000 after acquiring an additional 388,721 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in i3 Verticals in the 3rd quarter worth about $6,807,000. Finally, Wellington Management Group LLP increased its stake in shares of 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 during the period. 64.19% of the stock is currently owned by institutional investors.

About i3 Verticals

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.