i3 Verticals, Inc. (NASDAQ:IIIV) Shares Sold by Ranger Investment Management L.P.

Ranger Investment Management L.P. lowered its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,153,935 shares of the company’s stock after selling 19,650 shares during the quarter. i3 Verticals accounts for 1.7% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 25th largest position. Ranger Investment Management L.P.’s holdings in i3 Verticals were worth $26,587,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. AltraVue Capital LLC acquired a new position in shares of i3 Verticals during the 4th quarter valued at about $20,993,000. Raymond James Financial Inc. acquired a new position in i3 Verticals during the 4th quarter worth about $13,313,000. Legato Capital Management LLC purchased a new position in shares of i3 Verticals in the fourth quarter valued at approximately $4,233,000. New York State Common Retirement Fund grew its holdings in shares of i3 Verticals by 1,855.9% in the fourth quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock valued at $4,051,000 after purchasing an additional 166,843 shares in the last quarter. Finally, Royce & Associates LP grew its stake 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 worth $12,473,000 after acquiring an additional 52,510 shares in the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

i3 Verticals Trading Down 2.1 %

Shares of IIIV opened at $22.76 on Wednesday. The stock’s 50 day moving average is $25.65 and its two-hundred day moving average is $24.21. i3 Verticals, Inc. has a twelve month low of $18.75 and a twelve month high of $29.80. The firm has a market capitalization of $752.76 million, a PE ratio of 5.07 and a beta of 1.36.

i3 Verticals (NASDAQ:IIIV) last posted its earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.36% and a net margin of 41.85%. On average, sell-side analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current year.

Analysts Set New Price Targets

IIIV has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, February 10th. KeyCorp boosted their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Morgan Stanley raised their price objective on i3 Verticals from $22.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Finally, DA Davidson upped their target price on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

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.