i3 Verticals Inc (NASDAQ:IIIV) – Equities researchers at KeyCorp lowered their Q4 2019 EPS estimates for i3 Verticals in a research note issued to investors on Sunday, August 11th. KeyCorp analyst J. Beck now forecasts that the company will earn $0.19 per share for the quarter, down from their prior estimate of $0.22. KeyCorp currently has a “Overweight” rating and a $28.00 target price on the stock. KeyCorp also issued estimates for i3 Verticals’ Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $0.20 EPS, Q4 2020 earnings at $0.17 EPS and FY2020 earnings at $0.70 EPS.
i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.02 million. i3 Verticals had a positive return on equity of 15.38% and a negative net margin of 0.36%. i3 Verticals’s revenue was up 24.9% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share.
A number of other brokerages also recently issued reports on IIIV. Bank of America began coverage on i3 Verticals in a research report on Tuesday. They issued a “neutral” rating and a $23.00 price target for the company. BTIG Research set a $31.00 price target on i3 Verticals and gave the stock a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research upgraded i3 Verticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine downgraded i3 Verticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $26.33.
Shares of IIIV opened at $22.56 on Wednesday. The company has a market cap of $566.33 million, a PE ratio of 40.29, a P/E/G ratio of 1.53 and a beta of 0.22. The business has a fifty day moving average of $27.77 and a 200 day moving average of $24.88. i3 Verticals has a 52-week low of $15.15 and a 52-week high of $31.44. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.61.
Large investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC purchased a new position in shares of i3 Verticals during the second quarter valued at $33,773,000. Polar Asset Management Partners Inc. purchased a new position in shares of i3 Verticals during the second quarter valued at $8,678,000. Vanguard Group Inc. increased its stake in shares of i3 Verticals by 56.9% during the second quarter. Vanguard Group Inc. now owns 619,909 shares of the company’s stock valued at $18,256,000 after buying an additional 224,833 shares during the period. Southside Capital LLC purchased a new position in shares of i3 Verticals during the second quarter valued at $5,036,000. Finally, Confluence Investment Management LLC increased its stake in shares of i3 Verticals by 73.1% during the first quarter. Confluence Investment Management LLC now owns 264,770 shares of the company’s stock valued at $6,359,000 after buying an additional 111,781 shares during the period. Institutional investors and hedge funds own 37.85% of the company’s stock.
In other i3 Verticals news, CEO Gregory S. Daily bought 84,800 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average cost of $23.49 per share, for a total transaction of $1,991,952.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David K. Morgan bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $21.35 per share, with a total value of $42,700.00. The disclosure for this purchase can be found here. 56.20% of the stock is currently owned by company insiders.
About i3 Verticals
i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.
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