i3 Verticals, Inc. (NASDAQ:IIIV) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 32.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 232,153 shares of the company’s stock after purchasing an additional 56,320 shares during the quarter. New York State Common Retirement Fund owned approximately 0.70% of i3 Verticals worth $5,727,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. NBC Securities Inc. raised its stake in 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 buying an additional 1,125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of i3 Verticals by 2,744.4% in the 1st 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 during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of i3 Verticals during the 4th quarter valued at approximately $72,000. KLP Kapitalforvaltning AS bought a new position in i3 Verticals during the fourth quarter worth $99,000. Finally, CIBC Private Wealth Group LLC boosted its holdings 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 purchasing an additional 1,809 shares during the period. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Stock Down 1.3%

IIIV opened at $28.63 on Monday. i3 Verticals, Inc. has a 12 month low of $20.42 and a 12 month high of $30.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $951.09 million, a P/E ratio of 6.51 and a beta of 1.24. The stock’s 50 day moving average price is $26.17 and its 200 day moving average price is $25.54.

Insider Activity at i3 Verticals

In other i3 Verticals news, Director John C. Harrison sold 78,597 shares of the company’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 $1,949,991.57. Following the completion of the sale, the director directly owned 3,876 shares in the company, valued at $96,163.56. This represents a 95.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Burton Harvey sold 71,860 shares of i3 Verticals stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $1,782,846.60. Following the transaction, the director owned 11,285 shares in the company, valued at approximately $279,980.85. This trade represents a 86.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 377,261 shares of company stock worth $9,374,552. 59.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IIIV. Morgan Stanley reduced their price target on shares of i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 13th. Benchmark reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a report on Monday, June 16th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, i3 Verticals currently has an average rating of “Moderate Buy” and a consensus target price 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.