Wellington Management Group LLP Decreases Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Wellington Management Group LLP lessened its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 76.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,120 shares of the company’s stock after selling 284,344 shares during the period. Wellington Management Group LLP owned 0.26% of i3 Verticals worth $1,821,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in shares of i3 Verticals by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,120 shares of the company’s stock worth $208,000 after purchasing an additional 426 shares during the period. JPMorgan Chase & Co. grew its holdings in i3 Verticals by 4.2% in the fourth quarter. JPMorgan Chase & Co. now owns 13,010 shares of the company’s stock worth $317,000 after purchasing an additional 530 shares during the period. Squarepoint Ops LLC grew its stake in shares of i3 Verticals by 5.9% in the 1st quarter. Squarepoint Ops LLC now owns 12,507 shares of the company’s stock worth $307,000 after buying an additional 702 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of i3 Verticals by 63.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock worth $38,000 after acquiring an additional 703 shares during the last quarter. Finally, Swiss National Bank boosted its stake in i3 Verticals by 1.6% in the 2nd quarter. Swiss National Bank now owns 50,400 shares of the company’s stock worth $1,152,000 after purchasing an additional 800 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

i3 Verticals Stock Performance

NASDAQ IIIV opened at $22.63 on Thursday. The business’s 50 day moving average price is $20.85 and its 200-day moving average price is $20.52. i3 Verticals, Inc. has a fifty-two week low of $17.54 and a fifty-two week high of $25.70. The company has a market cap of $755.16 million, a P/E ratio of -323.29 and a beta of 1.57. 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 posted its quarterly earnings data on Thursday, February 8th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $91.99 million for the quarter, compared to analysts’ expectations of $92.92 million. i3 Verticals had a net margin of 0.14% and a return on equity of 9.28%. Sell-side analysts predict that i3 Verticals, Inc. will post 0.95 earnings per share for the current year.

Analysts Set New Price Targets

IIIV has been the subject of a number of research analyst reports. Morgan Stanley cut their price objective on i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. BMO Capital Markets decreased their price objective on i3 Verticals from $24.00 to $23.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. Benchmark began coverage on shares of i3 Verticals in a report on Friday, February 23rd. They issued a “buy” rating and a $28.00 target price for the company. Finally, TheStreet upgraded shares of i3 Verticals from a “d+” rating to a “c-” rating in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, i3 Verticals currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

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.