9,400 Shares in i3 Verticals, Inc. (NASDAQ:IIIV) Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. acquired a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,400 shares of the company's stock, valued at approximately $232,000.

Other large investors have also recently modified their holdings of the company. AltraVue Capital LLC acquired a new position in i3 Verticals during the 4th quarter valued at approximately $20,993,000. Forager Capital Management LLC purchased a new stake in shares of i3 Verticals during the 4th quarter worth about $17,626,000. Raymond James Financial Inc. purchased a new position in i3 Verticals in the 4th quarter valued at about $13,313,000. Harbor Capital Advisors Inc. purchased a new position in i3 Verticals in the 1st quarter valued at about $6,711,000. Finally, Cramer Rosenthal Mcglynn LLC lifted its stake in i3 Verticals by 32.3% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 276,530 shares of the company's stock valued at $6,371,000 after buying an additional 67,489 shares in the last quarter. Institutional investors own 84.22% of the company's stock.

Insider Buying and Selling at i3 Verticals

In other news, CFO Geoffrey C. Smith sold 8,404 shares of i3 Verticals stock in a transaction on Thursday, May 15th. The shares were 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 directly owned 55,000 shares of the company's stock, valued at approximately $1,460,800. The trade was a 13.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Harrison sold 78,597 shares of i3 Verticals stock in a transaction 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 directly owned 3,876 shares of the company's stock, valued at approximately $96,163.56. This trade represents a 95.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 377,261 shares of company stock worth $9,374,552. 59.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Benchmark reiterated a "buy" rating and issued a $33.00 price objective on shares of i3 Verticals in a report on Monday, June 16th. Morgan Stanley cut their price target 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 equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, i3 Verticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.

i3 Verticals Stock Performance

Shares of IIIV stock opened at $28.24 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.02. i3 Verticals, Inc. has a 52 week low of $20.42 and a 52 week high of $30.10. The stock has a market capitalization of $938.13 million, a PE ratio of 6.42 and a beta of 1.24. The firm has a 50 day moving average of $25.93 and a two-hundred day moving average of $25.34.

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.

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