Confluence Investment Management LLC Sells 14,482 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Confluence Investment Management LLC lowered its stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 278,147 shares of the company's stock after selling 14,482 shares during the quarter. Confluence Investment Management LLC owned 0.84% of i3 Verticals worth $6,862,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in i3 Verticals by 112.3% during the third quarter. Barclays PLC now owns 41,036 shares of the company's stock worth $873,000 after purchasing an additional 21,709 shares during the last quarter. SG Americas Securities LLC raised its position in i3 Verticals by 62.4% during the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company's stock worth $199,000 after acquiring an additional 3,323 shares during the last quarter. Equitable Trust Co. purchased a new stake in shares of i3 Verticals during the fourth quarter worth about $746,000. Legato Capital Management LLC purchased a new stake in i3 Verticals in the fourth quarter valued at approximately $4,233,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of i3 Verticals by 1,855.9% during the 4th quarter. New York State Common Retirement Fund now owns 175,833 shares of the company's stock valued at $4,051,000 after acquiring an additional 166,843 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company's stock.

i3 Verticals Stock Performance

NASDAQ IIIV traded up $0.66 during trading on Tuesday, hitting $24.49. The stock had a trading volume of 117,138 shares, compared to its average volume of 243,691. i3 Verticals, Inc. has a 12 month low of $18.77 and a 12 month high of $29.80. The company has a market capitalization of $813.48 million, a PE ratio of 5.45 and a beta of 1.31. The company's 50-day moving average price is $25.02 and its two-hundred day moving average price is $24.84.

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 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John C. Harrison sold 78,597 shares of the firm's 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 transaction, the director now owns 3,876 shares of the company's stock, valued at $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. Insiders have sold a total of 377,261 shares of company stock valued at $9,374,552 in the last ninety days. 59.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th. DA Davidson upped their price target on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. KeyCorp increased their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, BMO Capital Markets upped their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. 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 company. According to MarketBeat.com, i3 Verticals currently has a consensus rating of "Moderate Buy" and an average target price of $29.57.

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.