Northern Trust Corp Has $5.08 Million Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

Northern Trust Corp boosted its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,597 shares of the company's stock after acquiring an additional 19,568 shares during the period. Northern Trust Corp owned 0.66% of i3 Verticals worth $5,083,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

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

i3 Verticals Trading Down 0.5%

Shares of i3 Verticals stock traded down $0.13 on Monday, reaching $24.99. 192,969 shares of the company were exchanged, compared to its average volume of 235,756. i3 Verticals, Inc. has a one year low of $18.77 and a one year high of $29.80. The company has a 50-day moving average of $25.04 and a 200 day moving average of $24.86. The company has a market capitalization of $830.09 million, a price-to-earnings ratio of 5.57 and a beta of 1.31.

Insider Activity

In related news, Director David M. Wilds sold 218,400 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 260,657 shares of the company's stock, valued at approximately $6,466,900.17. The trade was a 45.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Burton Harvey sold 71,860 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $1,782,846.60. Following the sale, the director now directly owns 11,285 shares of the company's stock, valued at $279,980.85. This represents a 86.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 377,261 shares of company stock valued at $9,374,552. 59.07% of the stock is owned by company insiders.

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.