i3 Verticals, Inc. (NASDAQ:IIIV) Position Trimmed by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lessened its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 26.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,676 shares of the company’s stock after selling 79,559 shares during the quarter. EverSource Wealth Advisors LLC owned approximately 0.65% of i3 Verticals worth $4,966,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Geneva Capital Management LLC lifted its holdings in shares of i3 Verticals by 1.7% during the first quarter. Geneva Capital Management LLC now owns 1,919,097 shares of the company’s stock worth $43,928,000 after buying an additional 31,271 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of i3 Verticals by 0.8% during the third quarter. Vanguard Group Inc. now owns 1,262,579 shares of the company’s stock worth $26,691,000 after buying an additional 9,705 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of i3 Verticals by 43.1% during the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after buying an additional 337,576 shares during the last quarter. Ranger Investment Management L.P. lifted its holdings in shares of i3 Verticals by 2.6% during the fourth quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock worth $22,186,000 after buying an additional 26,670 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in shares of i3 Verticals by 10.9% during the first quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock worth $13,729,000 after buying an additional 59,050 shares during the last quarter. Institutional investors own 84.22% of the company’s stock.

Wall Street Analyst Weigh In

IIIV has been the topic of a number of analyst reports. Stephens upped their price target on i3 Verticals from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. KeyCorp increased their target price on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Benchmark increased their target price on i3 Verticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, BMO Capital Markets decreased their target price on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, i3 Verticals has an average rating of “Moderate Buy” and an average price target of $27.50.

i3 Verticals Stock Down 1.6 %

IIIV stock traded down $0.38 during mid-day trading on Friday, reaching $23.74. The company had a trading volume of 283,548 shares, compared to its average volume of 205,694. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $21.52 and a two-hundred day simple moving average of $21.37. The company has a market capitalization of $794.58 million, a price-to-earnings ratio of 2,376.38 and a beta of 1.58. i3 Verticals, Inc. has a 52 week low of $17.54 and a 52 week high of $25.51.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Friday, May 10th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. The business had revenue of $94.54 million for the quarter, compared to the consensus estimate of $96.27 million. As a group, equities analysts predict that i3 Verticals, Inc. will post 0.9 earnings per share 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.