i3 Verticals, Inc. (NASDAQ:IIIV) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its position in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,507 shares of the company's stock after selling 112,047 shares during the quarter. Ameriprise Financial Inc. owned 1.03% of i3 Verticals worth $7,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in i3 Verticals during the 4th quarter worth about $72,000. KLP Kapitalforvaltning AS acquired a new position in shares of i3 Verticals during the 4th quarter worth about $99,000. CIBC Private Wealth Group LLC boosted its position in shares of i3 Verticals by 52.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock worth $126,000 after acquiring an additional 1,809 shares in the last quarter. AlphaQuest LLC boosted its position in shares of i3 Verticals by 688,600.0% during the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company's stock worth $159,000 after acquiring an additional 6,886 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in i3 Verticals by 26.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company's stock worth $168,000 after purchasing an additional 1,488 shares during the last quarter. 84.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity at i3 Verticals

In related news, Director John C. Harrison sold 78,597 shares of i3 Verticals stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $1,949,991.57. Following the transaction, the director now directly owns 3,876 shares in the company, valued at $96,163.56. This trade represents a 95.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David M. Wilds sold 218,400 shares of i3 Verticals stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $5,418,504.00. Following the completion of the transaction, the director now owns 260,657 shares in the company, valued at approximately $6,466,900.17. This trade represents a 45.59% 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 worth $9,374,552 in the last three months. Insiders own 59.07% of the company's stock.

i3 Verticals Stock Up 1.4%

NASDAQ:IIIV traded up $0.34 during midday trading on Tuesday, reaching $25.33. The stock had a trading volume of 248,034 shares, compared to its average volume of 235,805. The firm has a fifty day simple moving average of $25.05 and a two-hundred day simple moving average of $24.86. i3 Verticals, Inc. has a 12-month low of $18.77 and a 12-month high of $29.80. The stock has a market cap of $841.39 million, a P/E ratio of 5.64 and a beta of 1.31.

Wall Street Analyst Weigh In

IIIV has been the topic of a number of research analyst reports. DA Davidson raised their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Morgan Stanley cut their price objective on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 13th. BMO Capital Markets raised their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, February 10th. Finally, KeyCorp raised their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Two 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.

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.