BMO Capital Markets Cuts i3 Verticals (NASDAQ:IIIV) Price Target to $21.00

i3 Verticals (NASDAQ:IIIV) had its target price reduced by BMO Capital Markets from $23.00 to $21.00 in a report released on Thursday morning, Benzinga reports. They currently have a market perform rating on the stock.

Several other equities analysts have also commented on the stock. DA Davidson reaffirmed a buy rating and issued a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. KeyCorp decreased their price target on shares of i3 Verticals from $28.00 to $27.00 and set an overweight rating for the company in a report on Monday, August 12th. Stephens reissued an overweight rating and set a $29.00 price objective on shares of i3 Verticals in a report on Friday, August 16th. Raymond James cut their target price on i3 Verticals from $31.00 to $28.00 and set a strong-buy rating on the stock in a research report on Monday, August 12th. Finally, Benchmark reaffirmed a buy rating and set a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $27.14.

i3 Verticals Price Performance

Shares of IIIV opened at $21.96 on Thursday. The company has a 50 day moving average of $22.11 and a two-hundred day moving average of $21.77. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.01. i3 Verticals has a twelve month low of $17.54 and a twelve month high of $25.51. The company has a market cap of $735.05 million, a price-to-earnings ratio of 2,196.00 and a beta of 1.54.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. The business had revenue of $56.04 million during the quarter, compared to analyst estimates of $96.43 million. As a group, analysts predict that i3 Verticals will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On i3 Verticals

Hedge funds have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC boosted its position in i3 Verticals by 0.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 70,222 shares of the company’s stock worth $1,607,000 after purchasing an additional 640 shares in the last quarter. Comerica Bank boosted its holdings in i3 Verticals by 46.0% during the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after buying an additional 672 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in i3 Verticals during the first quarter valued at $25,000. Select Equity Group L.P. increased its holdings in i3 Verticals by 1.8% in the second quarter. Select Equity Group L.P. now owns 65,730 shares of the company’s stock valued at $1,451,000 after buying an additional 1,147 shares in the last quarter. Finally, Pitcairn Co. raised its position in shares of i3 Verticals by 14.7% in the first quarter. Pitcairn Co. now owns 13,818 shares of the company’s stock worth $316,000 after acquiring an additional 1,767 shares during the period. 84.22% of the stock is owned by hedge funds and other institutional investors.

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.