i3 Verticals (NASDAQ:IIIV) Given a $30.00 Price Target by Morgan Stanley Analysts

i3 Verticals (NASDAQ:IIIV) has been assigned a $30.00 price objective by investment analysts at Morgan Stanley in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 4.34% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $40.00 price objective (up from $35.00) on shares of i3 Verticals in a research note on Monday, August 11th. Benchmark reaffirmed a “buy” rating and set a $39.00 target price (up from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

i3 Verticals Stock Performance

IIIV stock opened at $31.36 on Tuesday. The company’s 50 day moving average price is $27.88 and its 200 day moving average price is $26.29. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 6.01 and a beta of 1.32. i3 Verticals has a fifty-two week low of $20.42 and a fifty-two week high of $33.44.

Insider Buying and Selling

In related news, Director Timothy Mckenna sold 6,882 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total value of $218,916.42. Following the sale, the director owned 3,876 shares in the company, valued at approximately $123,295.56. This trade represents a 63.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 59.07% of the company’s stock.

Institutional Trading of i3 Verticals

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in i3 Verticals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company’s stock worth $30,544,000 after acquiring an additional 19,342 shares during the last quarter. JPMorgan Chase & Co. raised its stake in i3 Verticals by 61.3% during the 4th quarter. JPMorgan Chase & Co. now owns 15,877 shares of the company’s stock valued at $366,000 after buying an additional 6,035 shares during the last quarter. Alliancebernstein L.P. raised its stake in i3 Verticals by 25.3% during the 4th quarter. Alliancebernstein L.P. now owns 16,631 shares of the company’s stock valued at $383,000 after buying an additional 3,360 shares during the last quarter. Geode Capital Management LLC raised its stake in i3 Verticals by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 538,057 shares of the company’s stock valued at $12,400,000 after buying an additional 3,373 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in i3 Verticals by 38.5% during the 4th quarter. Wells Fargo & Company MN now owns 15,911 shares of the company’s stock valued at $367,000 after buying an additional 4,419 shares during the last quarter. 84.22% of the stock is 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.