DA Davidson Issues Positive Forecast for i3 Verticals (NASDAQ:IIIV) Stock Price

i3 Verticals (NASDAQ:IIIV) had its price objective lifted by DA Davidson from $34.00 to $39.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

IIIV has been the subject of a number of other reports. Morgan Stanley set a $30.00 price objective on i3 Verticals and gave the stock an “equal weight” rating in a report on Tuesday. Stephens reissued an “overweight” rating and set a $40.00 price objective (up from $35.00) on shares of i3 Verticals in a report on Monday, August 11th. Finally, Benchmark reissued a “buy” rating and set a $39.00 price objective (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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

i3 Verticals Stock Performance

Shares of IIIV opened at $31.36 on Wednesday. The stock has a 50 day moving average price of $27.88 and a two-hundred day moving average price of $26.29. The firm has a market capitalization of $1.04 billion, a P/E ratio of 6.01 and a beta of 1.32. i3 Verticals has a 52 week low of $20.42 and a 52 week high of $33.44.

Insider Buying and Selling at i3 Verticals

In other news, Director Timothy Mckenna sold 6,882 shares of the business’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 transaction, the director owned 3,876 shares in the company, valued at $123,295.56. The trade was a 63.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 59.07% of the stock is owned by insiders.

Hedge Funds Weigh In On i3 Verticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geneva Capital Management LLC boosted its stake in shares of i3 Verticals by 5.7% in the 2nd quarter. Geneva Capital Management LLC now owns 1,887,701 shares of the company’s stock worth $51,874,000 after buying an additional 101,331 shares during the last quarter. Long Path Partners LP boosted its stake in shares of i3 Verticals by 4.2% in the 2nd quarter. Long Path Partners LP now owns 1,039,847 shares of the company’s stock worth $28,575,000 after buying an additional 41,851 shares during the last quarter. Forager Capital Management LLC purchased a new position in shares of i3 Verticals in the 4th quarter worth approximately $17,626,000. Geode Capital Management LLC boosted its stake in shares of i3 Verticals by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 648,201 shares of the company’s stock worth $17,815,000 after buying an additional 2,330 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of i3 Verticals by 3.9% in the 2nd quarter. Raymond James Financial Inc. now owns 580,373 shares of the company’s stock worth $15,949,000 after buying an additional 21,568 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

About i3 Verticals

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.