Price T Rowe Associates Inc. MD Invests $210,000 in i3 Verticals, Inc. (NASDAQ:IIIV)

Price T Rowe Associates Inc. MD acquired a new position in i3 Verticals, Inc. (NASDAQ:IIIV) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,092 shares of the company’s stock, valued at approximately $210,000.

Other large investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of i3 Verticals in the fourth quarter worth about $99,000. CIBC Private Wealth Group LLC grew its stake in shares of 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 purchasing an additional 1,809 shares during the last quarter. AlphaQuest LLC grew its stake in shares of i3 Verticals by 688,600.0% in the fourth quarter. AlphaQuest LLC now owns 6,887 shares of the company’s stock worth $159,000 after purchasing an additional 6,886 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of i3 Verticals by 26.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company’s stock worth $168,000 after purchasing an additional 1,488 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of i3 Verticals by 62.4% in the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company’s stock worth $199,000 after purchasing an additional 3,323 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Stock Performance

IIIV stock opened at $26.20 on Friday. i3 Verticals, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $29.80. The business’s 50 day moving average price is $24.87 and its two-hundred day moving average price is $24.79. The company has a market capitalization of $866.54 million, a price-to-earnings ratio of 5.84 and a beta of 1.31.

Insiders Place Their Bets

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of the company’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 transaction, the chief financial officer now owns 55,000 shares in the company, valued at approximately $1,460,800. This represents a 13.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Wilds sold 218,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $5,418,504.00. Following the completion of the sale, the director now directly owns 260,657 shares in the company, valued at approximately $6,466,900.17. This represents a 45.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 377,261 shares of company stock worth $9,374,552. Company insiders own 59.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IIIV shares. KeyCorp raised their target price on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. DA Davidson raised their target price on i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. BMO Capital Markets raised their target price on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, February 10th. Finally, Morgan Stanley cut their price objective on i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.57.

i3 Verticals 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.