New York State Common Retirement Fund Acquires 56,320 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

New York State Common Retirement Fund grew its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 232,153 shares of the company's stock after purchasing an additional 56,320 shares during the period. New York State Common Retirement Fund owned about 0.70% of i3 Verticals worth $5,727,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. AltraVue Capital LLC bought a new stake in shares of i3 Verticals during the 4th quarter worth about $20,993,000. Forager Capital Management LLC bought a new stake in shares of i3 Verticals during the 4th quarter worth about $17,626,000. Harbor Capital Advisors Inc. bought a new stake in shares of i3 Verticals during the 1st quarter worth about $6,711,000. Cramer Rosenthal Mcglynn LLC boosted its stake in shares of i3 Verticals by 32.3% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 276,530 shares of the company's stock worth $6,371,000 after acquiring an additional 67,489 shares in the last quarter. Finally, Bastion Asset Management Inc. bought a new stake in shares of i3 Verticals during the 4th quarter worth about $1,235,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on IIIV. Benchmark reiterated a "buy" rating and issued a $33.00 price objective on shares of i3 Verticals in a research report on Monday, June 16th. Morgan Stanley dropped their target price 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. Two 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.57.

Insider Transactions at i3 Verticals

In other i3 Verticals news, Director David M. Wilds sold 218,400 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $5,418,504.00. Following the completion of the sale, the director directly owned 260,657 shares in the company, valued at $6,466,900.17. This represents a 45.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Geoffrey C. Smith sold 8,404 shares of the company's stock in a transaction 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 sale, the chief financial officer owned 55,000 shares of the company's stock, valued at $1,460,800. The trade was a 13.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 377,261 shares of company stock worth $9,374,552. Insiders own 59.07% of the company's stock.

i3 Verticals Stock Down 0.3%

Shares of NASDAQ:IIIV traded down $0.08 during midday trading on Tuesday, reaching $28.81. The company had a trading volume of 276,270 shares, compared to its average volume of 262,992. 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 business's 50 day moving average price is $26.17 and its 200 day moving average price is $25.54. The stock has a market cap of $957.07 million, a PE ratio of 6.55 and a beta of 1.24. i3 Verticals, Inc. has a 1-year low of $20.42 and a 1-year high of $30.10.

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.