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Legato Capital Management LLC Raises Stock Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

i3 Verticals logo with Computer and Technology background

Legato Capital Management LLC boosted its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,184 shares of the company's stock after buying an additional 62,460 shares during the period. i3 Verticals accounts for approximately 0.8% of Legato Capital Management LLC's portfolio, making the stock its 11th biggest holding. Legato Capital Management LLC owned about 0.74% of i3 Verticals worth $6,073,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in IIIV. Charles Schwab Investment Management Inc. increased its holdings in shares of i3 Verticals by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company's stock valued at $1,529,000 after purchasing an additional 1,404 shares during the period. Swiss National Bank increased its holdings in shares of i3 Verticals by 2.0% in the fourth quarter. Swiss National Bank now owns 46,700 shares of the company's stock valued at $1,076,000 after purchasing an additional 900 shares during the period. American Century Companies Inc. increased its holdings in shares of i3 Verticals by 79.3% in the fourth quarter. American Century Companies Inc. now owns 27,052 shares of the company's stock valued at $623,000 after purchasing an additional 11,962 shares during the period. Sei Investments Co. increased its holdings in shares of i3 Verticals by 5.7% in the fourth quarter. Sei Investments Co. now owns 14,294 shares of the company's stock valued at $329,000 after purchasing an additional 770 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of i3 Verticals in the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 84.22% of the company's stock.

i3 Verticals Price Performance

IIIV traded up $0.20 during trading on Friday, reaching $28.70. 148,986 shares of the stock were exchanged, compared to its average volume of 301,504. The business's 50 day moving average price is $26.40 and its two-hundred day moving average price is $25.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $953.25 million, a price-to-earnings ratio of 6.52 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.

Insider Buying and Selling

In related news, CFO Geoffrey C. Smith sold 8,404 shares of the 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 completion of the sale, the chief financial officer owned 55,000 shares of the company's stock, valued at approximately $1,460,800. This represents a 13.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Burton Harvey sold 71,860 shares of the 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 $1,782,846.60. Following the sale, the director directly owned 11,285 shares of the company's stock, valued at approximately $279,980.85. This trade represents a 86.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 377,261 shares of company stock valued at $9,374,552 over the last three months. Insiders own 59.07% of the company's stock.

Wall Street Analyst Weigh In

IIIV has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 13th. Benchmark restated a "buy" rating and issued a $33.00 price target on shares of i3 Verticals in a research note on Monday, June 16th. Two investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.

Read Our Latest Stock Report on i3 Verticals

About i3 Verticals

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for i3 Verticals (NASDAQ:IIIV)

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