54,178 Shares in i3 Verticals, Inc. $IIIV Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a stake in i3 Verticals, purchasing 54,178 shares valued at approximately $1.34 million, which represents 0.16% ownership of the company.
• Research analysts have revised their price targets for i3 Verticals, with Stephens setting a new target of $40.00, indicating a positive outlook with an "overweight" rating.
• Recent insider transactions included Director Timothy Mckenna selling 6,882 shares, reducing his ownership by approximately 64%, amid a backdrop of 59.07% insider ownership of the stock.

Nuveen LLC purchased a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 54,178 shares of the company's stock, valued at approximately $1,337,000. Nuveen LLC owned approximately 0.16% of i3 Verticals at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. raised its position in shares of i3 Verticals by 112,500.0% during the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock worth $27,000 after buying an additional 1,125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of i3 Verticals by 2,744.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock worth $51,000 after buying an additional 1,976 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of i3 Verticals during the 1st quarter worth about $151,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of i3 Verticals by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,926 shares of the company's stock worth $196,000 after buying an additional 796 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of i3 Verticals during the 1st quarter worth about $207,000. 84.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IIIV shares. Benchmark reaffirmed a "buy" rating and issued a $39.00 price objective (up previously from $33.00) on shares of i3 Verticals in a research note on Monday, August 11th. DA Davidson lifted their price objective on shares of i3 Verticals from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Stephens lifted their price objective on shares of i3 Verticals from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Finally, Morgan Stanley lifted their price objective on shares of i3 Verticals from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, i3 Verticals presently has an average rating of "Moderate Buy" and a consensus target price of $34.33.

i3 Verticals Stock Up 1.5%

Shares of i3 Verticals stock traded up $0.44 during trading on Friday, hitting $30.58. The stock had a trading volume of 120,688 shares, compared to its average volume of 243,354. The stock has a 50 day simple moving average of $29.66 and a 200 day simple moving average of $26.66. The company has a market capitalization of $986.51 million, a PE ratio of 5.86 and a beta of 1.30. i3 Verticals, Inc. has a 1 year low of $20.42 and a 1 year high of $33.44.

Insider Activity at i3 Verticals

In other news, CRO Paul Christians sold 1,890 shares of i3 Verticals stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $31.40, for a total value of $59,346.00. Following the transaction, the executive directly owned 43,110 shares of the company's stock, valued at $1,353,654. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy Mckenna sold 6,882 shares of i3 Verticals stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total transaction of $218,916.42. Following the completion of the transaction, the director directly owned 3,876 shares in the company, valued at approximately $123,295.56. This trade represents a 63.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 59.07% of the company's stock.

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.