Brokerages Set i3 Verticals, Inc. (NASDAQ:IIIV) PT at $29.57

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $29.57.

Several research firms recently issued reports on IIIV. 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, May 13th. Benchmark reissued a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a research report on Monday, June 16th.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $28.98 on Wednesday. The company has a market capitalization of $962.72 million, a PE ratio of 6.59 and a beta of 1.24. i3 Verticals has a fifty-two week low of $20.42 and a fifty-two week high of $29.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50 day simple moving average of $25.57 and a two-hundred day simple moving average of $25.14.

Insider Buying and Selling

In other i3 Verticals news, Director John C. Harrison sold 78,597 shares of the firm’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 $1,949,991.57. Following the transaction, the director directly owned 3,876 shares in the company, valued at approximately $96,163.56. This trade represents a 95.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Geoffrey C. Smith sold 8,404 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $26.56, for a total value of $223,210.24. Following the transaction, the chief financial officer owned 55,000 shares in the company, valued at approximately $1,460,800. This trade represents a 13.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 377,261 shares of company stock valued at $9,374,552 in the last 90 days. Insiders own 59.07% of the company’s stock.

Hedge Funds Weigh In On i3 Verticals

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. raised its stake in shares of i3 Verticals by 112,500.0% during the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company’s stock worth $27,000 after purchasing an additional 1,125 shares during the period. Swiss National Bank raised its stake in shares of i3 Verticals by 2.0% during the 4th quarter. Swiss National Bank now owns 46,700 shares of the company’s stock worth $1,076,000 after purchasing an additional 900 shares during the period. Squarepoint Ops LLC bought a new stake in shares of i3 Verticals during the 4th quarter worth $294,000. Rhumbline Advisers raised its stake in shares of i3 Verticals by 2.2% during the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company’s stock worth $896,000 after purchasing an additional 786 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of i3 Verticals by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company’s stock worth $1,529,000 after purchasing an additional 1,404 shares during the period. 84.22% of the stock is currently owned by institutional investors.

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.