Professional
Added to YB: 2026-04-20
Pitch date: 2026-03-31
IIIV [neutral]
i3 Verticals, Inc.
-5.7%
current return
Author Info
No bio for this author
Company Info
i3 Verticals, Inc. provides enterprise software and services solutions to public sector entities in the United States and Canada.
Market Cap
$466.4M
Pitch Price
$22.47
Price Target
32.00 (+52%)
Dividend
N/A
EV/EBITDA
33.39
P/E
277.30
EV/Sales
2.61
Sector
Software
Category
value
Heartland Value Fund Portfolio Holding: i3 Verticals, Inc.
IIIV (holding update): Enterprise software for public sector (schools, municipalities) w/ embedded payments. High retention, sticky contracts. Shares slumped to $22 on AI disruption fears, but market overestimating risk for niche verticals like cafeteria/tuition systems. Strong cash flow, strategic interest potential. Worth 16x EBITDA = $32/share target, still 16% discount to largest peer at 19x EBITDA.
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