i3 Verticals, Inc. (NASDAQ:IIIV) Receives $34.33 Consensus Price Target from Analysts

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

A number of equities research analysts recently commented on the stock. Benchmark restated a “buy” rating and issued a $39.00 price objective (up previously from $33.00) on shares of i3 Verticals in a research report on Monday, August 11th. DA Davidson increased their target price on i3 Verticals from $34.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Morgan Stanley raised their price target on 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, Stephens lifted their target price on shares of i3 Verticals from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th.

Insider Buying and Selling

In related news, CRO Paul Christians sold 1,890 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $31.40, for a total transaction of $59,346.00. Following the completion of the sale, the executive directly owned 43,110 shares of the company’s stock, valued at approximately $1,353,654. This represents a 4.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy Mckenna sold 6,882 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total transaction of $218,916.42. Following the sale, the director directly owned 3,876 shares of the company’s stock, valued at approximately $123,295.56. This trade represents a 63.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,272 shares of company stock valued at $355,862. Company insiders own 59.07% of the company’s stock.

Hedge Funds Weigh In On i3 Verticals

A number of institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in i3 Verticals by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,619 shares of the company’s stock worth $237,000 after buying an additional 402 shares in the last quarter. Rhumbline Advisers lifted its holdings in i3 Verticals by 2.2% in the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company’s stock worth $896,000 after buying an additional 786 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in i3 Verticals by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,926 shares of the company’s stock worth $196,000 after buying an additional 796 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in i3 Verticals by 65.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company’s stock worth $60,000 after buying an additional 870 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in i3 Verticals in the 2nd quarter worth $26,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Stock Performance

Shares of IIIV opened at $30.50 on Monday. The company has a market capitalization of $983.93 million, a price-to-earnings ratio of 5.84 and a beta of 1.30. i3 Verticals has a fifty-two week low of $20.42 and a fifty-two week high of $33.44. The firm has a 50-day simple moving average of $30.00 and a 200-day simple moving average of $26.87.

i3 Verticals Company 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.