Brokerages Set i3 Verticals, Inc. (NASDAQ:IIIV) PT at $29.86

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $29.57.

IIIV has been the topic of several analyst reports. DA Davidson upped their price objective on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, February 10th. KeyCorp increased their price target on i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, February 10th. BMO Capital Markets increased their price target on i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, February 10th. Finally, Morgan Stanley lowered their price target on i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday.

i3 Verticals Stock Down 1.3%

i3 Verticals stock opened at $26.40 on Tuesday. The company has a market capitalization of $873.15 million, a P/E ratio of 5.88 and a beta of 1.31. The stock’s 50 day moving average is $24.82 and its 200 day moving average is $24.77. i3 Verticals has a twelve month low of $18.75 and a twelve month high of $29.80.

Insider Buying and Selling

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $26.56, for a total transaction of $223,210.24. Following the completion of the transaction, the chief financial officer now owns 55,000 shares in the company, valued at $1,460,800. The trade was a 13.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Harrison sold 78,597 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $1,949,991.57. Following the transaction, the director now owns 3,876 shares of the company’s stock, valued at $96,163.56. This trade represents a 95.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 377,261 shares of company stock worth $9,374,552. Corporate insiders own 59.07% of the company’s stock.

Institutional Trading of i3 Verticals

Several institutional investors and hedge funds have recently modified their holdings of IIIV. NBC Securities Inc. raised its stake 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 valued at $27,000 after acquiring an additional 1,125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake 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 valued at $51,000 after acquiring an additional 1,976 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of i3 Verticals during the fourth quarter valued at approximately $72,000. KLP Kapitalforvaltning AS bought a new stake in shares of i3 Verticals during the fourth quarter valued at approximately $99,000. Finally, CIBC Private Wealth Group LLC raised its stake in i3 Verticals by 52.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock worth $126,000 after buying an additional 1,809 shares in the last quarter. 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.