i3 Verticals (NASDAQ:IIIV) Sets New 52-Week High – Should You Buy?

i3 Verticals, Inc. (NASDAQ:IIIV) hit a new 52-week high during trading on Wednesday . The stock traded as high as $25.53 and last traded at $25.51, with a volume of 80583 shares traded. The stock had previously closed at $23.66.

Analyst Ratings Changes

IIIV has been the subject of several research reports. KeyCorp reduced their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. BMO Capital Markets reduced their price target on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, October 3rd. Raymond James dropped their price objective on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a report on Monday, August 12th. DA Davidson reiterated a “buy” rating and issued a $32.00 target price on shares of i3 Verticals in a research note on Monday, September 30th. Finally, Stephens reissued an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, i3 Verticals presently has an average rating of “Moderate Buy” and an average target price of $27.14.

i3 Verticals Price Performance

The business’s 50 day simple moving average is $22.26 and its 200 day simple moving average is $21.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.31). The firm had revenue of $56.04 million for the quarter, compared to the consensus estimate of $96.43 million. i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. As a group, sell-side analysts anticipate that i3 Verticals, Inc. will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On i3 Verticals

Institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new position in shares of i3 Verticals during the second quarter worth approximately $600,000. Confluence Investment Management LLC lifted its holdings in i3 Verticals by 102.7% during the 2nd quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after buying an additional 155,338 shares in the last quarter. Long Path Partners LP acquired a new position in i3 Verticals during the 2nd quarter worth $12,756,000. Mason Capital Management LLC bought a new position in i3 Verticals in the 2nd quarter valued at $7,443,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of i3 Verticals by 33.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company’s stock valued at $9,474,000 after buying an additional 107,054 shares during the period. Institutional investors own 84.22% of the company’s stock.

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.