Ranger Investment Management L.P. Grows Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

Ranger Investment Management L.P. grew its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,047,985 shares of the company’s stock after buying an additional 26,670 shares during the quarter. Ranger Investment Management L.P. owned 3.14% of i3 Verticals worth $22,186,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. ABS Direct Equity Fund LLC purchased a new stake in i3 Verticals during the fourth quarter valued at about $741,000. CIBC Private Wealth Group LLC raised its holdings in shares of i3 Verticals by 147.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock valued at $5,196,000 after buying an additional 146,222 shares in the last quarter. Cape Investment Advisory Inc. bought a new stake in i3 Verticals in the 4th quarter worth approximately $30,000. Raymond James Financial Services Advisors Inc. boosted its stake in i3 Verticals by 4.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 90,276 shares of the company’s stock worth $1,911,000 after buying an additional 3,904 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in i3 Verticals by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company’s stock valued at $106,000 after acquiring an additional 1,345 shares during the last quarter. 84.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $28.00 price objective on shares of i3 Verticals in a research note on Monday, April 1st. BMO Capital Markets decreased their price objective on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, May 13th. KeyCorp boosted their target price on i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Morgan Stanley reduced their price target on i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Finally, TheStreet raised i3 Verticals from a “d+” rating to a “c-” rating in a research note on Monday, March 18th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.57.

i3 Verticals Trading Down 0.9 %

Shares of IIIV stock traded down $0.18 during trading hours on Friday, reaching $19.09. The company’s stock had a trading volume of 201,830 shares, compared to its average volume of 237,460. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. i3 Verticals, Inc. has a one year low of $17.54 and a one year high of $25.70. The stock has a market capitalization of $638.94 million, a P/E ratio of 1,910.91 and a beta of 1.59. The firm’s fifty day simple moving average is $21.33 and its 200 day simple moving average is $20.94.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings results on Friday, May 10th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The company had revenue of $94.54 million during the quarter, compared to the consensus estimate of $96.27 million. i3 Verticals had a net margin of 0.63% and a return on equity of 8.91%. Equities research analysts expect that i3 Verticals, Inc. will post 0.91 EPS for the current year.

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.