Squarepoint Ops LLC Buys Shares of 12,774 i3 Verticals, Inc. (NASDAQ:IIIV)

Squarepoint Ops LLC purchased a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,774 shares of the company's stock, valued at approximately $294,000.

Several other large investors have also recently bought and sold shares of IIIV. Johnson Financial Group Inc. bought a new position in i3 Verticals in the fourth quarter valued at approximately $72,000. KLP Kapitalforvaltning AS acquired a new position in shares of i3 Verticals during the fourth quarter worth $99,000. CIBC Private Wealth Group LLC lifted its holdings 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 worth $126,000 after purchasing an additional 1,809 shares during the period. AlphaQuest LLC raised its stake in i3 Verticals by 688,600.0% during the fourth quarter. AlphaQuest LLC now owns 6,887 shares of the company's stock worth $159,000 after buying an additional 6,886 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in i3 Verticals by 26.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company's stock worth $168,000 after buying an additional 1,488 shares during the last quarter. 84.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Geoffrey C. Smith sold 8,404 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $26.56, for a total transaction of $223,210.24. Following the transaction, the chief financial officer now directly owns 55,000 shares in the company, valued at approximately $1,460,800. The trade was a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Harrison sold 78,597 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $1,949,991.57. Following the transaction, the director now owns 3,876 shares in the company, valued at approximately $96,163.56. This trade represents a 95.30% 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 worth $9,374,552. 59.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IIIV has been the subject of several research analyst reports. KeyCorp lifted their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. BMO Capital Markets lifted their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. DA Davidson boosted their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Finally, Morgan Stanley decreased their target price on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. Two equities 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.57.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV traded down $0.01 during midday trading on Tuesday, hitting $24.79. 203,441 shares of the company's stock were exchanged, compared to its average volume of 247,452. The stock has a 50 day moving average price of $25.03 and a 200-day moving average price of $24.88. The company has a market cap of $823.45 million, a PE ratio of 5.52 and a beta of 1.22. i3 Verticals, Inc. has a 12 month low of $19.13 and a 12 month high of $29.80.

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.