Avantax Advisory Services Inc. Grows Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Avantax Advisory Services Inc. increased its holdings in i3 Verticals, Inc. (NASDAQ:IIIV) by 8.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,473 shares of the company’s stock after buying an additional 1,368 shares during the period. Avantax Advisory Services Inc. owned 0.05% of i3 Verticals worth $431,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL raised its position in shares of i3 Verticals by 0.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 92,516 shares of the company’s stock valued at $2,132,000 after buying an additional 475 shares in the last quarter. Invesco Ltd. raised its position in i3 Verticals by 2.6% during the fourth quarter. Invesco Ltd. now owns 25,292 shares of the company’s stock valued at $583,000 after purchasing an additional 649 shares in the last quarter. Sei Investments Co. lifted its stake in i3 Verticals by 5.7% during the fourth quarter. Sei Investments Co. now owns 14,294 shares of the company’s stock worth $329,000 after purchasing an additional 770 shares during the last quarter. Rhumbline Advisers lifted its stake in i3 Verticals by 2.2% during the first quarter. Rhumbline Advisers now owns 36,331 shares of the company’s stock worth $896,000 after purchasing an additional 786 shares during the last quarter. Finally, NBC Securities Inc. boosted its holdings in shares of i3 Verticals by 112,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company’s stock worth $27,000 after purchasing an additional 1,125 shares in the last quarter. Institutional investors own 84.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Morgan Stanley dropped their target price on i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 13th. Benchmark restated a “buy” rating and issued a $33.00 price objective 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.57.

i3 Verticals Trading Up 1.1%

NASDAQ IIIV opened at $28.41 on Thursday. The stock has a market cap of $943.78 million, a P/E ratio of 6.46 and a beta of 1.32. i3 Verticals, Inc. has a fifty-two week low of $20.42 and a fifty-two week high of $30.10. The stock has a 50 day simple moving average of $26.96 and a two-hundred day simple moving average of $25.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.18 and a current ratio of 1.18.

Insiders Place Their Bets

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

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.