Strs Ohio Acquires New Shares in i3 Verticals, Inc. $IIIV

Key Points

• Strs Ohio acquired a new stake in i3 Verticals, Inc., purchasing 16,600 shares valued at approximately $410,000 during the first quarter of the year.
• Several larger investors have also increased their investments in i3 Verticals, with NBC Securities boosting its stake by an astounding 112,500%.
• Analysts have raised price targets for i3 Verticals, with the average target now at $34.33 and a consensus rating of "Moderate Buy."

Strs Ohio acquired a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,600 shares of the company's stock, valued at approximately $410,000.

Other large investors have also bought and sold shares of the company. NBC Securities Inc. boosted its stake in i3 Verticals by 112,500.0% in the first quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock valued at $27,000 after buying an additional 1,125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in i3 Verticals by 2,744.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after buying an additional 1,976 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in i3 Verticals in the first quarter valued at about $151,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in i3 Verticals by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,926 shares of the company's stock valued at $196,000 after buying an additional 796 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in i3 Verticals in the first quarter valued at about $207,000. 84.22% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at i3 Verticals

In other news, General Counsel Paul Maple sold 2,500 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $31.04, for a total transaction of $77,600.00. Following the completion of the transaction, the general counsel directly owned 33,269 shares in the company, valued at $1,032,669.76. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy Mckenna sold 6,882 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total value of $218,916.42. Following the transaction, the director owned 3,876 shares of the company's stock, valued at $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. Insiders sold 11,272 shares of company stock worth $355,862 over the last ninety days. 59.07% of the stock is owned by insiders.

i3 Verticals Price Performance

NASDAQ:IIIV opened at $31.87 on Tuesday. i3 Verticals, Inc. has a one year low of $20.42 and a one year high of $33.44. The company has a market cap of $1.03 billion, a PE ratio of 6.11 and a beta of 1.30. The firm's 50 day simple moving average is $30.21 and its 200 day simple moving average is $27.04.

Analysts Set New Price Targets

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

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.

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