Federated Hermes Inc. Has $1.39 Million Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Federated Hermes Inc. cut its position in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 25.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,292 shares of the company's stock after selling 19,311 shares during the quarter. Federated Hermes Inc. owned 0.17% of i3 Verticals worth $1,389,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Forager Capital Management LLC acquired a new position in shares of i3 Verticals in the fourth quarter valued at approximately $17,626,000. Harbor Capital Advisors Inc. acquired a new position in i3 Verticals in the 1st quarter valued at approximately $6,711,000. Cramer Rosenthal Mcglynn LLC increased its position 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 acquiring an additional 67,489 shares during the period. Legato Capital Management LLC raised its stake in shares of i3 Verticals by 34.0% during the first quarter. Legato Capital Management LLC now owns 246,184 shares of the company's stock valued at $6,073,000 after acquiring an additional 62,460 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of i3 Verticals by 32.0% during the first quarter. New York State Common Retirement Fund now owns 232,153 shares of the company's stock worth $5,727,000 after purchasing an additional 56,320 shares during the period. 84.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other i3 Verticals news, Director David M. Wilds sold 218,400 shares of i3 Verticals stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $5,418,504.00. Following the completion of the sale, the director directly owned 260,657 shares in the company, valued at approximately $6,466,900.17. The trade was a 45.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Geoffrey C. Smith sold 8,404 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were 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 directly owned 55,000 shares in the company, 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 377,261 shares of company stock worth $9,374,552 in the last quarter. 59.07% of the stock is currently owned by company insiders.

i3 Verticals Trading Up 11.3%

i3 Verticals stock traded up $3.21 during trading hours on Friday, reaching $31.71. 581,537 shares of the company's stock were exchanged, compared to its average volume of 301,372. The firm's 50 day simple moving average is $27.02 and its 200 day simple moving average is $25.98. i3 Verticals, Inc. has a twelve month low of $20.42 and a twelve month high of $32.33. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.05 billion, a PE ratio of 7.21 and a beta of 1.32.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley decreased their price objective on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Benchmark reissued a "buy" rating and issued a $33.00 price target on shares of i3 Verticals in a research note on Monday, June 16th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.57.

i3 Verticals 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.