New York State Common Retirement Fund Raises Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

New York State Common Retirement Fund raised its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 32.0% during the first quarter, according to its most recent filing with the SEC. The firm 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 0.70% of i3 Verticals worth $5,727,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NBC Securities Inc. increased its holdings in shares of i3 Verticals by 112,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock valued at $27,000 after acquiring an additional 1,125 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in i3 Verticals by 2,744.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after purchasing an additional 1,976 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in i3 Verticals in the fourth quarter valued at about $72,000. KLP Kapitalforvaltning AS bought a new position in i3 Verticals in the fourth quarter worth about $99,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of i3 Verticals by 52.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock valued at $126,000 after buying an additional 1,809 shares during the last quarter. Institutional investors own 84.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IIIV shares. 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 research report on Tuesday, May 13th. Benchmark restated a "buy" rating and issued a $33.00 target price on shares of i3 Verticals in a research note on Monday, June 16th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.57.

Insider Activity at i3 Verticals

In related news, Director John C. Harrison sold 78,597 shares of the stock in a transaction that occurred 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 owned 3,876 shares in the company, valued at approximately $96,163.56. This represents a 95.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Geoffrey C. Smith sold 8,404 shares of i3 Verticals stock in a transaction that occurred 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 sale, the chief financial officer owned 55,000 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders have sold 377,261 shares of company stock valued at $9,374,552. 59.07% of the stock is currently owned by corporate insiders.

i3 Verticals Stock Performance

IIIV stock traded down $0.50 during trading on Thursday, reaching $28.50. The company had a trading volume of 217,742 shares, compared to its average volume of 353,204. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.18 and a current ratio of 1.18. i3 Verticals, Inc. has a twelve month low of $20.42 and a twelve month high of $30.10. The company has a market cap of $946.77 million, a price-to-earnings ratio of 6.48 and a beta of 1.24. The firm has a 50-day simple moving average of $26.40 and a 200-day simple moving average of $25.66.

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.