i3 Verticals, Inc. (NASDAQ:IIIV) Receives $29.86 Average PT from Analysts

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $29.57.

A number of brokerages have recently weighed in on IIIV. KeyCorp boosted their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Morgan Stanley reduced their price target on shares of i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. DA Davidson increased their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, BMO Capital Markets raised their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, February 10th.

Insider Buying and Selling

In related news, Director David M. Wilds sold 218,400 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $5,418,504.00. Following the completion of the transaction, the director now owns 260,657 shares in the company, valued at approximately $6,466,900.17. The trade was a 45.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Burton Harvey sold 71,860 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $1,782,846.60. Following the transaction, the director now owns 11,285 shares of the company’s stock, valued at approximately $279,980.85. The trade was a 86.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 377,261 shares of company stock worth $9,374,552. Corporate insiders own 59.07% of the company’s stock.

Institutional Investors Weigh In On i3 Verticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. lifted its position in i3 Verticals by 112,500.0% in the first quarter. NBC Securities Inc. now owns 1,126 shares of the company’s stock valued at $27,000 after acquiring an additional 1,125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of i3 Verticals by 2,744.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company’s stock worth $51,000 after acquiring an additional 1,976 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of i3 Verticals during the fourth quarter worth about $72,000. KLP Kapitalforvaltning AS acquired a new position in i3 Verticals during the fourth quarter worth about $99,000. Finally, CIBC Private Wealth Group LLC grew its position in i3 Verticals by 52.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock worth $126,000 after buying an additional 1,809 shares during the period. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Trading Down 1.3%

Shares of IIIV stock opened at $26.40 on Tuesday. The business’s fifty day simple moving average is $24.82 and its 200-day simple moving average is $24.77. The company has a market cap of $873.15 million, a PE ratio of 5.88 and a beta of 1.31. i3 Verticals has a 12-month low of $18.75 and a 12-month high of $29.80.

i3 Verticals Company 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.