10,242 Shares in i3 Verticals, Inc. $IIIV Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC purchased a new position in i3 Verticals, Inc. (NASDAQ:IIIV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,242 shares of the company’s stock, valued at approximately $281,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in i3 Verticals by 2,744.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company’s stock worth $51,000 after purchasing an additional 1,976 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in i3 Verticals during the first quarter worth about $151,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in i3 Verticals by 11.2% during the first 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 during the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in i3 Verticals during the first quarter worth about $207,000. Finally, AQR Capital Management LLC bought a new stake in i3 Verticals during the first quarter worth about $209,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

Insider Buying and Selling at i3 Verticals

In other i3 Verticals news, General Counsel Paul Maple sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $31.04, for a total value of $77,600.00. Following the transaction, the general counsel directly owned 33,269 shares of the company’s stock, valued at approximately $1,032,669.76. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy Mckenna sold 6,882 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $31.81, for a total transaction of $218,916.42. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,272 shares of company stock valued at $355,862. 59.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

i3 Verticals Price Performance

Shares of i3 Verticals stock opened at $31.67 on Thursday. The firm has a market cap of $1.02 billion, a P/E ratio of 6.07 and a beta of 1.28. The firm has a 50 day simple moving average of $31.41 and a 200 day simple moving average of $28.13. i3 Verticals, Inc. has a fifty-two week low of $22.20 and a fifty-two week high of $33.59.

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.