Envestnet Asset Management Inc. Buys 1,881 Shares of i3 Verticals, Inc. $IIIV

Envestnet Asset Management Inc. raised its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 2.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 95,311 shares of the company’s stock after purchasing an additional 1,881 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.29% of i3 Verticals worth $2,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IIIV. Punch & Associates Investment Management Inc. acquired a new stake in shares of i3 Verticals during the first quarter worth $11,207,000. T. Rowe Price Investment Management Inc. bought a new stake in i3 Verticals during the first quarter valued at $10,018,000. Visualize Group LP acquired a new stake in i3 Verticals during the 1st quarter worth about $7,013,000. Harbor Capital Advisors Inc. raised its position 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 worth $12,496,000 after acquiring an additional 182,699 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position 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 worth $9,639,000 after acquiring an additional 85,380 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

Wall Street Analyst Weigh In

IIIV has been the topic of several research analyst reports. Stephens upped their target price on i3 Verticals from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, August 11th. Weiss Ratings restated a “buy (b-)” rating on shares of i3 Verticals in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of i3 Verticals from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. Zacks Research raised shares of i3 Verticals from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, DA Davidson raised their price target on shares of i3 Verticals from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

i3 Verticals Trading Up 1.1%

IIIV opened at $28.85 on Monday. i3 Verticals, Inc. has a 1-year low of $22.20 and a 1-year high of $33.97. The company has a market cap of $930.70 million, a price-to-earnings ratio of 5.53 and a beta of 1.23. The company’s fifty day moving average price is $31.28 and its two-hundred day moving average price is $28.93.

Insider Transactions at i3 Verticals

In related news, CRO Paul Christians sold 1,890 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $31.40, for a total value of $59,346.00. Following the transaction, the executive owned 43,110 shares of the company’s stock, valued at approximately $1,353,654. This trade represents a 4.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Paul Maple sold 2,500 shares of i3 Verticals stock in a transaction dated 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 owned 33,269 shares of the company’s stock, valued at $1,032,669.76. This trade represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 59.07% of the company’s stock.

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.