Geneva Capital Management LLC Sells 85,313 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Geneva Capital Management LLC lessened its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 4.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,805,378 shares of the company’s stock after selling 85,313 shares during the period. Geneva Capital Management LLC owned 0.05% of i3 Verticals worth $38,473,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in i3 Verticals during the 2nd quarter worth $600,000. Confluence Investment Management LLC increased its holdings in shares of i3 Verticals by 102.7% in the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after acquiring an additional 155,338 shares in the last quarter. Long Path Partners LP acquired a new stake in shares of i3 Verticals during the second quarter worth about $12,756,000. Mason Capital Management LLC bought a new position in shares of i3 Verticals during the 2nd quarter valued at about $7,443,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of i3 Verticals in the 3rd quarter valued at approximately $11,373,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Trading Down 0.5 %

Shares of NASDAQ IIIV opened at $25.78 on Wednesday. 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 business has a 50-day moving average of $22.57 and a 200-day moving average of $21.89. i3 Verticals, Inc. has a fifty-two week low of $17.54 and a fifty-two week high of $25.96.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IIIV shares. KeyCorp cut their price target on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Benchmark reaffirmed a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, September 3rd. Raymond James dropped their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. DA Davidson reaffirmed a “buy” rating and set a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Finally, BMO Capital Markets dropped their target price on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, October 3rd. Two investment 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, i3 Verticals has an average rating of “Moderate Buy” and a consensus price target of $27.14.

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.