Jennison Associates LLC reduced its position in i3 Verticals, Inc. (NASDAQ:IIIV – Free Report) by 20.5% in the 1st quarter, Holdings Channel reports. The firm owned 870,051 shares of the company’s stock after selling 223,711 shares during the quarter. Jennison Associates LLC’s holdings in i3 Verticals were worth $19,454,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IIIV. William Blair Investment Management LLC acquired a new stake in i3 Verticals during the 4th quarter worth $9,733,000. Wasatch Advisors LP acquired a new stake in shares of i3 Verticals in the second quarter valued at about $8,271,000. UBS Group AG boosted its position in i3 Verticals by 91.3% during the fourth quarter. UBS Group AG now owns 369,135 shares of the company’s stock worth $9,299,000 after acquiring an additional 176,181 shares during the last quarter. Manatuck Hill Partners LLC grew its stake in i3 Verticals by 225.0% during the 3rd quarter. Manatuck Hill Partners LLC now owns 130,000 shares of the company’s stock valued at $4,220,000 after acquiring an additional 90,000 shares in the last quarter. Finally, North Reef Capital Management LP purchased a new stake in i3 Verticals during the 4th quarter valued at about $1,907,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on IIIV. Cantor Fitzgerald decreased their target price on shares of i3 Verticals from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Benchmark dropped their price target on i3 Verticals from $39.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. DA Davidson cut their price target on i3 Verticals from $35.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded i3 Verticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, i3 Verticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.
Insider Activity
In other news, CEO Gregory S. Daily purchased 50,000 shares of i3 Verticals stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $19.23 per share, with a total value of $961,500.00. Following the transaction, the chief executive officer owned 50,000 shares in the company, valued at $961,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 60.09% of the stock is owned by corporate insiders.
i3 Verticals Trading Down 0.9%
Shares of IIIV opened at $20.68 on Wednesday. i3 Verticals, Inc. has a 12-month low of $18.47 and a 12-month high of $33.97. The firm has a market capitalization of $577.63 million, a P/E ratio of 29.54 and a beta of 0.83. The firm has a 50-day moving average price of $20.32 and a 200 day moving average price of $21.95. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.18.
i3 Verticals (NASDAQ:IIIV – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $57.52 million for the quarter, compared to the consensus estimate of $57.51 million. i3 Verticals had a net margin of 8.59% and a return on equity of 4.19%. i3 Verticals has set its FY 2026 guidance at 1.090-1.150 EPS. Sell-side analysts forecast that i3 Verticals, Inc. will post 0.66 EPS for the current year.
About i3 Verticals
i3 Verticals, Inc is a provider of integrated software and merchant payment processing solutions tailored for specific vertical markets across the United States. Since its founding in 2001 and headquartered in Columbia, South Carolina, the company has focused on delivering SaaS-based applications and payment services to streamline revenue collection and management workflows for its clients.
The company’s product portfolio includes electronic payment processing for credit and debit card transactions, automated clearing house (ACH) transfers, online and mobile payment portals, and related risk management and compliance tools.
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