i3 Verticals (NASDAQ:IIIV) Reaches New 1-Year High – Time to Buy?

i3 Verticals, Inc. (NASDAQ:IIIV) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $26.66 and last traded at $24.61, with a volume of 336855 shares trading hands. The stock had previously closed at $23.79.

Analyst Ratings Changes

Several analysts have commented on the company. KeyCorp lowered their price target on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, August 12th. DA Davidson reissued a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. Raymond James decreased their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, August 12th. Stephens reiterated an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. Finally, Benchmark reiterated a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. Two 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.14.

i3 Verticals Trading Up 4.5 %

The company has a 50-day simple moving average of $23.06 and a 200-day simple moving average of $22.03. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a market cap of $839.99 million, a P/E ratio of 5.56 and a beta of 1.53.

Institutional Investors Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in shares of 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 during the period. Quantbot Technologies LP bought a new position in shares of i3 Verticals during the third quarter worth approximately $109,000. SG Americas Securities LLC bought a new position in shares of i3 Verticals during the second quarter worth approximately $116,000. Atom Investors LP bought a new position in shares of i3 Verticals during the third quarter worth approximately $218,000. Finally, Sanctuary Advisors LLC bought a new position in shares of i3 Verticals during the second quarter worth approximately $292,000. 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.