Janney Montgomery Scott LLC Takes Position in i3 Verticals, Inc. $IIIV

Janney Montgomery Scott LLC bought a new stake in i3 Verticals, Inc. (NASDAQ:IIIVFree Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 14,578 shares of the company’s stock, valued at approximately $401,000.

Several other large investors have also recently made changes to their positions in the company. Long Path Partners LP lifted its stake in shares of i3 Verticals by 1.9% in the 1st quarter. Long Path Partners LP now owns 997,996 shares of the company’s stock valued at $24,621,000 after purchasing an additional 18,219 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of i3 Verticals by 67.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 454,743 shares of the company’s stock valued at $12,496,000 after purchasing an additional 182,699 shares during the period. Punch & Associates Investment Management Inc. acquired a new position in shares of i3 Verticals in the 1st quarter valued at $11,207,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of i3 Verticals in the 1st quarter valued at $10,018,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of i3 Verticals by 28.0% in the 1st quarter. Russell Investments Group Ltd. now owns 390,724 shares of the company’s stock valued at $9,639,000 after purchasing an additional 85,380 shares during the period. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Paul Maple sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $31.04, for a total transaction of $77,600.00. Following the completion of the sale, the general counsel directly owned 33,269 shares in the company, valued at approximately $1,032,669.76. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy Mckenna sold 6,882 shares of the firm’s stock in a transaction dated 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 owned 3,876 shares of the company’s stock, valued at approximately $123,295.56. The trade was a 63.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,272 shares of company stock worth $355,862. Insiders own 59.07% of the company’s stock.

Wall Street Analysts Forecast Growth

IIIV has been the subject of several analyst reports. Zacks Research cut shares of i3 Verticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 1st. Stephens increased their price objective on shares of i3 Verticals from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, August 11th. Morgan Stanley increased their price objective on shares of i3 Verticals from $25.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Benchmark reaffirmed a “buy” rating and set a $39.00 price objective (up from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of i3 Verticals in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.33.

View Our Latest Research Report on i3 Verticals

i3 Verticals Trading Down 1.1%

i3 Verticals stock opened at $31.62 on Friday. i3 Verticals, Inc. has a 12-month low of $22.20 and a 12-month high of $33.59. The stock has a market cap of $1.02 billion, a P/E ratio of 6.06 and a beta of 1.28. The company has a 50-day moving average price of $31.44 and a 200 day moving average price of $28.00.

i3 Verticals Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for i3 Verticals (NASDAQ:IIIV)

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