i3 Verticals (NASDAQ:IIIV) Given a $30.00 Price Target by Morgan Stanley Analysts

i3 Verticals (NASDAQ:IIIV) has been assigned a $30.00 target price by investment analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 6.57% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Stephens reissued an “overweight” rating and issued a $40.00 target price (up previously from $35.00) on shares of i3 Verticals in a report on Monday. Benchmark reiterated a “buy” rating and set a $39.00 price target (up from $33.00) on shares of i3 Verticals in a research report on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, i3 Verticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

i3 Verticals Stock Performance

Shares of NASDAQ:IIIV opened at $32.11 on Tuesday. The company’s fifty day moving average is $27.45 and its two-hundred day moving average is $26.15. i3 Verticals has a 1-year low of $20.42 and a 1-year high of $32.33. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 6.15 and a beta of 1.32.

Insider Buying and Selling

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of the firm’s 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 owned 55,000 shares in the company, valued at approximately $1,460,800. This trade represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 59.07% of the company’s stock.

Hedge Funds Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IIIV. NBC Securities Inc. raised its stake in i3 Verticals by 112,500.0% during the 1st 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. increased its holdings 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 purchasing an additional 1,976 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of i3 Verticals during the fourth quarter valued at $72,000. Harbor Asset Planning Inc. bought a new stake in shares of i3 Verticals during the second quarter valued at about $110,000. Finally, PNC Financial Services Group Inc. lifted its holdings in i3 Verticals by 128.9% in the second quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock worth $124,000 after purchasing an additional 2,547 shares during the period. 84.22% of the stock is owned by institutional investors.

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.