i3 Verticals (NASDAQ:IIIV) Earns "Buy" Rating from Benchmark

i3 Verticals (NASDAQ:IIIV - Get Free Report)'s stock had its "buy" rating reiterated by Benchmark in a research note issued to investors on Monday,Benzinga reports. They currently have a $33.00 price objective on the stock. Benchmark's price target indicates a potential upside of 29.11% from the company's previous close.

Separately, Morgan Stanley lowered their target price on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.57.

i3 Verticals Trading Up 3.7%

Shares of NASDAQ IIIV traded up $0.92 during trading hours on Monday, hitting $25.56. 344,309 shares of the company traded hands, compared to its average volume of 251,317. The company's 50 day moving average price is $25.13 and its 200 day moving average price is $24.87. i3 Verticals has a 12 month low of $19.15 and a 12 month high of $29.80. The stock has a market capitalization of $849.10 million, a price-to-earnings ratio of 5.81 and a beta of 1.22. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.02.

Insider Buying and Selling

In related news, Director John C. Harrison sold 78,597 shares of i3 Verticals stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $1,949,991.57. Following the completion of the sale, the director now directly owns 3,876 shares in the company, valued at $96,163.56. The trade was a 95.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Geoffrey C. Smith sold 8,404 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $26.56, for a total transaction of $223,210.24. Following the completion of the sale, the chief financial officer now directly owns 55,000 shares of the company's stock, valued at approximately $1,460,800. This trade represents a 13.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 377,261 shares of company stock valued at $9,374,552 over the last quarter. 59.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. raised its stake in i3 Verticals by 112,500.0% in the first quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock worth $27,000 after buying an additional 1,125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in i3 Verticals by 2,744.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after purchasing an additional 1,976 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of i3 Verticals during the fourth quarter valued at about $72,000. KLP Kapitalforvaltning AS purchased a new stake in shares of i3 Verticals during the fourth quarter valued at about $99,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of i3 Verticals by 52.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock worth $126,000 after buying an additional 1,809 shares during the last quarter. Hedge funds and other institutional investors own 84.22% 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.