Zurcher Kantonalbank Zurich Cantonalbank Grows Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 36.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,992 shares of the company’s stock after buying an additional 1,345 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in i3 Verticals were worth $106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in i3 Verticals in the 3rd quarter worth $6,807,000. B. Riley Asset Management LLC purchased a new position in shares of i3 Verticals in the third quarter worth about $2,492,000. Cullen Investment Group LTD. purchased a new stake in i3 Verticals in the fourth quarter valued at approximately $1,878,000. Boston Partners acquired a new position in i3 Verticals in the 3rd quarter worth approximately $978,000. Finally, Heartland Advisors Inc. lifted its stake in i3 Verticals by 4.9% during the 3rd quarter. Heartland Advisors Inc. now owns 537,310 shares of the company’s stock valued at $11,359,000 after acquiring an additional 25,160 shares during the period. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TheStreet raised shares of i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. KeyCorp raised their target price on i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $28.00 price objective on shares of i3 Verticals in a research report on Monday, April 1st. BMO Capital Markets decreased their price target on shares of i3 Verticals from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday, February 12th. Finally, Morgan Stanley reduced their target price on i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Two 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.43.

i3 Verticals Stock Performance

NASDAQ IIIV opened at $22.17 on Friday. i3 Verticals, Inc. has a fifty-two week low of $17.54 and a fifty-two week high of $25.70. The firm has a market capitalization of $739.88 million, a P/E ratio of -316.71 and a beta of 1.56. The stock’s fifty day moving average is $22.50 and its two-hundred day moving average is $20.94. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.50 and a current ratio of 0.50.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $91.99 million during the quarter, compared to analyst estimates of $92.92 million. i3 Verticals had a net margin of 0.14% and a return on equity of 9.28%. On average, research analysts anticipate that i3 Verticals, Inc. will post 0.95 earnings per share for the current year.

i3 Verticals 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.