i3 Verticals, Inc. (NASDAQ:IIIV) Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. cut its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 0.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 811,550 shares of the company’s stock after selling 800 shares during the quarter. i3 Verticals accounts for 1.0% of Heartland Advisors Inc.’s portfolio, making the stock its 21st largest position. Heartland Advisors Inc.’s holdings in i3 Verticals were worth $18,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of i3 Verticals in the 4th quarter valued at about $13,313,000. Legato Capital Management LLC bought a new position in shares of i3 Verticals in the 4th quarter valued at approximately $4,233,000. New York State Common Retirement Fund boosted its holdings in shares of i3 Verticals by 1,855.9% during the 4th quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock worth $4,051,000 after buying an additional 166,843 shares during the period. Royce & Associates LP grew its position in shares of i3 Verticals by 10.7% in the fourth quarter. Royce & Associates LP now owns 541,350 shares of the company’s stock valued at $12,473,000 after purchasing an additional 52,510 shares during the last quarter. Finally, Equitable Trust Co. acquired a new stake in i3 Verticals in the 4th quarter valued at approximately $746,000. Institutional investors own 84.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

i3 Verticals Stock Up 0.6 %

Shares of NASDAQ IIIV opened at $25.37 on Friday. i3 Verticals, Inc. has a twelve month low of $18.75 and a twelve month high of $29.80. The business’s 50 day moving average price is $25.74 and its two-hundred day moving average price is $24.07. The company has a market cap of $839.09 million, a PE ratio of 5.65 and a beta of 1.52.

i3 Verticals (NASDAQ:IIIV) last posted its 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%. As a group, research analysts anticipate that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal 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.