Mitsubishi UFJ Asset Management Co. Ltd. Buys 796 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 11.2% in the first quarter, Holdings Channel.com reports. The fund owned 7,926 shares of the company’s stock after acquiring an additional 796 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in i3 Verticals were worth $196,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IIIV. NBC Securities Inc. raised its position in shares of i3 Verticals by 112,500.0% during the first quarter. NBC Securities Inc. now owns 1,126 shares of the company’s stock worth $27,000 after acquiring an additional 1,125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 last quarter. Johnson Financial Group Inc. bought a new position in shares of i3 Verticals during the fourth quarter worth about $72,000. Meeder Asset Management Inc. bought a new position in shares of i3 Verticals during the first quarter worth about $151,000. Finally, AlTi Global Inc. bought a new position in shares of i3 Verticals during the fourth quarter worth about $202,000. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Stock Performance

Shares of i3 Verticals stock opened at $31.94 on Friday. i3 Verticals, Inc. has a 52 week low of $20.42 and a 52 week high of $33.44. The stock has a 50 day moving average price of $27.75 and a two-hundred day moving average price of $26.25. The stock has a market capitalization of $1.06 billion, a PE ratio of 6.12 and a beta of 1.32.

Insider Buying and Selling

In other i3 Verticals news, Director Timothy Mckenna sold 6,882 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 3,876 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 59.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark restated a “buy” rating and set a $39.00 price objective (up from $33.00) on shares of i3 Verticals in a research report on Monday. DA Davidson raised their target price on i3 Verticals from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday. Stephens reaffirmed an “overweight” rating and set a $40.00 target price (up previously from $35.00) on shares of i3 Verticals in a research note on Monday. Finally, Morgan Stanley set a $30.00 target price on i3 Verticals and gave the stock an “equal weight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.33.

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.