i3 Verticals, Inc. (NASDAQ:IIIV) Stake Increased by Long Path Partners LP

Long Path Partners LP lifted its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 61.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 933,098 shares of the company’s stock after acquiring an additional 355,392 shares during the period. i3 Verticals makes up 6.5% of Long Path Partners LP’s investment portfolio, making the stock its 7th biggest position. Long Path Partners LP’s holdings in i3 Verticals were worth $19,884,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new position in i3 Verticals during the second quarter valued at approximately $600,000. Confluence Investment Management LLC boosted its stake in shares of i3 Verticals by 102.7% in the 2nd quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock valued at $6,768,000 after purchasing an additional 155,338 shares in the last quarter. Royce & Associates LP grew its holdings in shares of i3 Verticals by 11.1% during the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock valued at $10,417,000 after purchasing an additional 48,840 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in i3 Verticals in the 3rd quarter worth $11,373,000. Finally, Mason Capital Management LLC purchased a new position in i3 Verticals in the 2nd quarter worth $7,443,000. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

i3 Verticals Price Performance

IIIV opened at $23.67 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market capitalization of $799.81 million, a PE ratio of 5.32 and a beta of 1.53. The stock’s 50 day moving average price is $23.00 and its 200-day moving average price is $21.99. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $26.00.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IIIV shares. KeyCorp reduced their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. DA Davidson restated a “buy” rating and set a $32.00 price target on shares of i3 Verticals in a research report on Monday, September 30th. Raymond James decreased their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research note on Tuesday, November 19th. Finally, BMO Capital Markets cut their target price on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

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.