i3 Verticals, Inc. (NASDAQ:IIIV) Sees Large Decrease in Short Interest

i3 Verticals, Inc. (NASDAQ:IIIV) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 873,800 shares, a drop of 15.2% from the October 15th total of 1,030,000 shares. Based on an average daily trading volume, of 186,700 shares, the short-interest ratio is currently 4.7 days.

i3 Verticals Stock Down 1.7 %

Shares of i3 Verticals stock traded down $0.42 on Monday, reaching $24.40. 199,276 shares of the company were exchanged, compared to its average volume of 221,649. The company has a market cap of $824.45 million, a P/E ratio of -271.11 and a beta of 1.53. The stock’s 50 day moving average price is $22.79 and its 200-day moving average price is $21.94. i3 Verticals has a 1-year low of $17.54 and a 1-year high of $26.00. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IIIV. Comerica Bank increased its holdings in i3 Verticals by 46.0% during the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after acquiring an additional 672 shares in the last quarter. Select Equity Group L.P. increased its position in i3 Verticals by 1.8% during the second quarter. Select Equity Group L.P. now owns 65,730 shares of the company’s stock worth $1,451,000 after buying an additional 1,147 shares in the last quarter. Pitcairn Co. increased its position in i3 Verticals by 14.7% during the first quarter. Pitcairn Co. now owns 13,818 shares of the company’s stock worth $316,000 after buying an additional 1,767 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of i3 Verticals by 4.5% in the second quarter. Victory Capital Management Inc. now owns 45,700 shares of the company’s stock valued at $1,009,000 after acquiring an additional 1,950 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in i3 Verticals by 11.7% in the 1st quarter. BNP Paribas Financial Markets now owns 19,920 shares of the company’s stock valued at $456,000 after purchasing an additional 2,085 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a report on Tuesday, September 3rd. DA Davidson reiterated a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a report on Monday, September 30th. Stephens restated an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research note on Friday, August 16th. 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. Finally, BMO Capital Markets cut their price objective on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

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.