i3 Verticals, Inc. (NASDAQ:IIIV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $34.3333.

IIIV has been the topic of several research reports. DA Davidson boosted their price target on shares of i3 Verticals from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Stephens boosted their price target on shares of i3 Verticals from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Morgan Stanley boosted their price target on shares of i3 Verticals from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. Finally, Benchmark restated a “buy” rating and issued a $39.00 price target (up previously from $33.00) on shares of i3 Verticals in a research report on Monday, August 11th.

Insiders Place Their Bets

In related news, Director Timothy Mckenna sold 6,882 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $31.81, for a total value of $218,916.42. Following the sale, the director owned 3,876 shares in the company, valued at approximately $123,295.56. The trade was a 63.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 59.07% of the company’s stock.

Institutional Investors Weigh In On i3 Verticals

Several large investors have recently bought and sold shares of IIIV. Geneva Capital Management LLC increased its position in i3 Verticals by 5.7% during the second quarter. Geneva Capital Management LLC now owns 1,887,701 shares of the company’s stock valued at $51,874,000 after acquiring an additional 101,331 shares during the last quarter. Ranger Investment Management L.P. increased its position in i3 Verticals by 0.3% during the second quarter. Ranger Investment Management L.P. now owns 1,146,200 shares of the company’s stock valued at $31,498,000 after acquiring an additional 3,505 shares during the last quarter. Long Path Partners LP increased its position in i3 Verticals by 4.2% during the second quarter. Long Path Partners LP now owns 1,039,847 shares of the company’s stock valued at $28,575,000 after acquiring an additional 41,851 shares during the last quarter. Forager Capital Management LLC bought a new position in i3 Verticals during the fourth quarter valued at $17,626,000. Finally, Geode Capital Management LLC increased its position in i3 Verticals by 0.4% during the second quarter. Geode Capital Management LLC now owns 648,201 shares of the company’s stock valued at $17,815,000 after acquiring an additional 2,330 shares during the last quarter. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

i3 Verticals stock opened at $30.79 on Thursday. The stock has a market cap of $993.29 million, a P/E ratio of 5.90 and a beta of 1.32. i3 Verticals has a 1 year low of $20.42 and a 1 year high of $33.44. The firm’s 50 day moving average price is $28.26 and its 200-day moving average price is $26.41.

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.