i3 Verticals, Inc. (NASDAQ:IIIV) is Covenant Partners LLC's 10th Largest Position

Covenant Partners LLC decreased its holdings in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 24.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 260,984 shares of the company's stock after selling 82,904 shares during the quarter. i3 Verticals comprises approximately 1.7% of Covenant Partners LLC's portfolio, making the stock its 10th biggest holding. Covenant Partners LLC owned about 0.78% of i3 Verticals worth $5,525,000 as of its most recent SEC filing.

• Why i3 Verticals Stock Will Keep Going Up

Several other large investors have also recently bought and sold shares of the business. Ranger Investment Management L.P. lifted its position in i3 Verticals by 2.6% during the fourth quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company's stock worth $22,186,000 after buying an additional 26,670 shares during the period. ABS Direct Equity Fund LLC purchased a new position in shares of i3 Verticals in the 4th quarter worth 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 during the period. Cape Investment Advisory Inc. acquired a new stake in i3 Verticals during the 4th quarter valued at approximately $30,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in i3 Verticals by 4.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 90,276 shares of the company's stock valued at $1,911,000 after purchasing an additional 3,904 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company's stock.

Analysts Set New Price Targets

IIIV has been the subject of several research reports. BMO Capital Markets decreased their target price on i3 Verticals from $25.00 to $24.00 and set a "market perform" rating for the company in a research report on Monday, May 13th. KeyCorp boosted their price objective on i3 Verticals from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, April 22nd. TheStreet upgraded i3 Verticals from a "d+" rating to a "c-" rating in a research report on Monday, March 18th. Finally, Benchmark restated a "buy" rating and set a $28.00 price objective on shares of i3 Verticals in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.57.

Read Our Latest Research Report on IIIV

i3 Verticals Price Performance

Shares of IIIV traded up $0.03 during midday trading on Friday, reaching $20.00. The stock had a trading volume of 181,553 shares, compared to its average volume of 229,916. i3 Verticals, Inc. has a 52 week low of $17.54 and a 52 week high of $25.70. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The firm's 50 day moving average price is $21.11 and its 200-day moving average price is $20.91. The company has a market capitalization of $669.40 million, a P/E ratio of 1,997.00 and a beta of 1.59.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last posted its quarterly earnings data on Friday, May 10th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.03). The firm had revenue of $94.54 million during the quarter, compared to the consensus estimate of $96.27 million. i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. On average, analysts forecast that i3 Verticals, Inc. will post 0.91 earnings per share for the current fiscal year.

About i3 Verticals

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.

Featured Stories

• Five stocks we like better than i3 Verticals
• What Are Growth Stocks and Investing in Them
• Top 5 High-Performance Cryptocurrency ETFs to Watch
• Profitably Trade Stocks at 52-Week Highs
• 3 Stocks That Plummeted After the Post-Fed Speech Crash
• What is Forex and How Does it Work?
• Adobe Stock: It’s Not Too Late To Buy The Dip

Want to see what other hedge funds are holding IIIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for i3 Verticals, Inc. (NASDAQ:IIIV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ Collect 10%+ Dividends from AI's Explosive Growth? (From The Oxford Club) (Ad)

Should you invest $1,000 in i3 Verticals right now?

Before you consider i3 Verticals, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and i3 Verticals wasn't on the list.

While i3 Verticals currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here