Gabelli Funds LLC Has $852,000 Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Gabelli Funds LLC reduced its holdings in i3 Verticals, Inc. (NASDAQ:IIIV) by 19.6% during the 4th quarter, HoldingsChannel reports. The firm owned 37,000 shares of the company’s stock after selling 9,000 shares during the quarter. Gabelli Funds LLC’s holdings in i3 Verticals were worth $852,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Invesco Ltd. boosted its stake in i3 Verticals by 2.6% during the 4th quarter. Invesco Ltd. now owns 25,292 shares of the company’s stock valued at $583,000 after purchasing an additional 649 shares during the period. Pitcairn Co. boosted its position in shares of i3 Verticals by 4.0% in the fourth quarter. Pitcairn Co. now owns 17,183 shares of the company’s stock valued at $396,000 after acquiring an additional 657 shares during the period. Sei Investments Co. grew its stake in shares of i3 Verticals by 5.7% in the fourth quarter. Sei Investments Co. now owns 14,294 shares of the company’s stock worth $329,000 after acquiring an additional 770 shares during the last quarter. Swiss National Bank increased its position in i3 Verticals by 2.0% during the fourth quarter. Swiss National Bank now owns 46,700 shares of the company’s stock worth $1,076,000 after acquiring an additional 900 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in i3 Verticals by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company’s stock valued at $1,529,000 after purchasing an additional 1,404 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on IIIV shares. KeyCorp raised their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. BMO Capital Markets lifted their target price on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th. DA Davidson upped their price target on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Morgan Stanley lifted their price objective on i3 Verticals from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

i3 Verticals Trading Up 0.2 %

NASDAQ IIIV opened at $25.15 on Friday. i3 Verticals, Inc. has a 1-year low of $18.75 and a 1-year high of $29.80. The company has a market capitalization of $831.81 million, a price-to-earnings ratio of 5.60 and a beta of 1.36. The stock’s 50 day moving average is $25.29 and its two-hundred day moving average is $24.40.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. On average, analysts predict that i3 Verticals, Inc. will post 0.9 earnings per share for the current year.

About i3 Verticals

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.