Benchmark Reaffirms Buy Rating for i3 Verticals (NASDAQ:IIIV)

i3 Verticals (NASDAQ:IIIV - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Benchmark in a research note issued to investors on Monday,Benzinga reports. They currently have a $33.00 target price on the stock. Benchmark's price objective would suggest a potential upside of 41.36% from the stock's current price.

Separately, Morgan Stanley cut their price objective on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.57.

i3 Verticals Price Performance

NASDAQ:IIIV traded up $0.51 during trading hours on Monday, hitting $23.35. 38,661 shares of the company were exchanged, compared to its average volume of 247,683. i3 Verticals has a 52-week low of $19.15 and a 52-week high of $29.80. The stock has a market capitalization of $775.45 million, a price-to-earnings ratio of 5.22 and a beta of 1.22. The company's 50 day moving average price is $25.07 and its 200-day moving average price is $24.88.

Insider Activity at i3 Verticals

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $26.56, for a total value of $223,210.24. Following the completion of the transaction, the chief financial officer now directly owns 55,000 shares of the company's stock, valued at approximately $1,460,800. The trade was a 13.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John C. Harrison sold 78,597 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $1,949,991.57. Following 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 position. The disclosure for this sale can be found here. Insiders sold 377,261 shares of company stock worth $9,374,552 over the last three months. Company insiders own 59.07% of the company's stock.

Institutional Trading of i3 Verticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IIIV. Gamco Investors INC. ET AL lifted its holdings in i3 Verticals by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 92,516 shares of the company's stock valued at $2,132,000 after acquiring an additional 475 shares during the last quarter. Invesco Ltd. increased its stake in i3 Verticals by 2.6% during the fourth quarter. Invesco Ltd. now owns 25,292 shares of the company's stock worth $583,000 after acquiring an additional 649 shares during the last quarter. Pitcairn Co. raised its position in i3 Verticals by 4.0% in the fourth quarter. Pitcairn Co. now owns 17,183 shares of the company's stock valued at $396,000 after purchasing an additional 657 shares during the period. Sei Investments Co. lifted its stake in shares of i3 Verticals by 5.7% in the 4th quarter. Sei Investments Co. now owns 14,294 shares of the company's stock valued at $329,000 after purchasing an additional 770 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of i3 Verticals by 2.2% during the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company's stock worth $896,000 after purchasing an additional 786 shares during the period. Institutional investors and hedge funds 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.

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