Morgan Stanley Issues Positive Forecast for i3 Verticals (NASDAQ:IIIV) Stock Price

i3 Verticals (NASDAQ:IIIV) had its price objective lifted by stock analysts at Morgan Stanley from $22.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 9.00% from the stock’s previous close.

A number of other research firms have also commented on IIIV. Stephens reissued an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a research note on Tuesday, November 19th. BMO Capital Markets increased their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday. DA Davidson raised their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday. KeyCorp upped their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Benchmark reissued a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, i3 Verticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

i3 Verticals Stock Performance

IIIV opened at $29.67 on Wednesday. The firm has a market cap of $995.13 million, a price-to-earnings ratio of 6.61 and a beta of 1.51. The firm’s 50-day simple moving average is $24.16 and its 200-day simple moving average is $23.32. i3 Verticals has a twelve month low of $18.21 and a twelve month high of $29.80.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. As a group, sell-side analysts anticipate that i3 Verticals will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total value of $444,346.56. Following the completion of the sale, the president now directly owns 100,000 shares of the company’s stock, valued at $2,528,000. This represents a 14.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 59.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of i3 Verticals by 61.3% during the fourth quarter. JPMorgan Chase & Co. now owns 15,877 shares of the company’s stock worth $366,000 after purchasing an additional 6,035 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in i3 Verticals by 26.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company’s stock valued at $168,000 after acquiring an additional 1,488 shares during the period. Vanguard Group Inc. raised its position in shares of i3 Verticals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company’s stock worth $30,544,000 after purchasing an additional 19,342 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of i3 Verticals during the 4th quarter valued at about $99,000. Finally, Sei Investments Co. increased its stake in i3 Verticals by 5.7% during the 4th quarter. Sei Investments Co. now owns 14,294 shares of the company’s stock worth $329,000 after purchasing an additional 770 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

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.