i3 Verticals, Inc. (NASDAQ:IIIV) Receives $29.57 Average Target Price from Brokerages

i3 Verticals, Inc. (NASDAQ:IIIV) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $29.57.

IIIV has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research note on Monday, June 16th. Morgan Stanley decreased their price target on 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.

Insiders Place Their Bets

In other i3 Verticals news, Director David M. Wilds sold 218,400 shares of the firm’s stock in a transaction dated 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 sale, the director owned 260,657 shares of the company’s stock, valued at $6,466,900.17. This trade represents a 45.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Burton Harvey sold 71,860 shares of i3 Verticals stock in a transaction dated 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 sale, the director owned 11,285 shares of the company’s stock, valued at approximately $279,980.85. This trade represents a 86.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 377,261 shares of company stock valued at $9,374,552 in the last ninety days. Corporate insiders own 59.07% of the company’s stock.

Institutional Investors Weigh In On i3 Verticals

Hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. grew 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 buying an additional 1,125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in i3 Verticals by 2,744.4% during 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 period. Johnson Financial Group Inc. bought a new position in i3 Verticals during the 4th quarter worth approximately $72,000. KLP Kapitalforvaltning AS purchased a new position in i3 Verticals in the 4th quarter worth approximately $99,000. Finally, Harbor Asset Planning Inc. purchased a new position in i3 Verticals in the 2nd quarter worth approximately $110,000. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Trading Down 0.9%

NASDAQ:IIIV opened at $28.65 on Friday. i3 Verticals has a 1 year low of $20.42 and a 1 year high of $30.10. The stock’s fifty day moving average price is $26.58 and its two-hundred day moving average price is $25.77. 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 company has a market cap of $951.75 million, a P/E ratio of 6.51 and a beta of 1.24.

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.