Meeder Asset Management Inc. Makes New $151,000 Investment in i3 Verticals, Inc. (NASDAQ:IIIV)

Meeder Asset Management Inc. purchased a new stake in i3 Verticals, Inc. (NASDAQ:IIIV) in the 1st quarter, Holdings Channel reports. The fund purchased 6,122 shares of the company’s stock, valued at approximately $151,000.

Several other hedge funds have also modified their holdings of IIIV. NBC Securities Inc. lifted its holdings in shares of i3 Verticals by 112,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company’s stock valued at $27,000 after buying an additional 1,125 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of i3 Verticals by 2,744.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company’s stock valued at $51,000 after buying an additional 1,976 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of i3 Verticals in the 4th quarter valued at approximately $72,000. KLP Kapitalforvaltning AS acquired a new stake in shares of i3 Verticals in the 4th quarter valued at approximately $99,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of i3 Verticals by 52.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock valued at $126,000 after buying an additional 1,809 shares during the period. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Stock Performance

Shares of IIIV stock opened at $28.48 on Thursday. 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 stock has a fifty day moving average price of $26.65 and a 200 day moving average price of $25.79. The stock has a market cap of $946.11 million, a PE ratio of 6.47 and a beta of 1.24. i3 Verticals, Inc. has a 1 year low of $20.42 and a 1 year high of $30.10.

Wall Street Analyst Weigh In

Several analysts have recently commented on IIIV shares. Morgan Stanley reduced their price target on i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday, May 13th. Benchmark reaffirmed a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a report on Monday, June 16th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.57.

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 completion of the transaction, the director owned 3,876 shares of the company’s stock, valued at approximately $96,163.56. This trade represents a 95.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Burton Harvey sold 71,860 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 value of $1,782,846.60. Following the transaction, the director directly owned 11,285 shares of the company’s stock, valued at $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 three months, insiders sold 377,261 shares of company stock worth $9,374,552. 59.07% of the stock is currently owned by corporate insiders.

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.