i3 Verticals, Inc. (NASDAQ:IIIV) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• i3 Verticals, Inc. (NASDAQ:IIIV) has received a consensus recommendation of "Moderate Buy" from six brokerages, with an average 1-year target price of $34.33.
• Several analysts have raised their price targets for i3 Verticals, with DA Davidson and Benchmark each increasing their targets to $39.00 and Stephens raising theirs to $40.00.
• Insider selling was noted, as Director Timothy Mckenna sold nearly 7,000 shares at an average price of $31.81, decreasing his ownership by over 63%.

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $34.3333.

A number of equities research analysts have recently weighed in on the stock. Stephens raised their price target on shares of i3 Verticals from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. DA Davidson boosted their price target on shares of i3 Verticals from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Morgan Stanley lifted their price objective on shares of i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Finally, Benchmark restated a "buy" rating and set a $39.00 price target (up previously from $33.00) on shares of i3 Verticals in a research note on Monday, August 11th.

Insider Activity

In related news, Director Timothy Mckenna sold 6,882 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $31.81, for a total value of $218,916.42. Following the transaction, the director directly owned 3,876 shares in the company, valued at approximately $123,295.56. This represents a 63.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 59.07% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IIIV. Forager Capital Management LLC purchased a new stake in shares of i3 Verticals during the fourth quarter valued at approximately $17,626,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of i3 Verticals during the first quarter valued at approximately $11,207,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of i3 Verticals during the first quarter valued at approximately $10,018,000. Wasatch Advisors LP purchased a new stake in shares of i3 Verticals during the second quarter valued at approximately $8,271,000. Finally, Visualize Group LP purchased a new stake in i3 Verticals in the first quarter worth $7,013,000. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Price Performance

NASDAQ IIIV traded down $0.30 on Thursday, hitting $31.33. 90,406 shares of the stock were exchanged, compared to its average volume of 299,048. The company has a market capitalization of $1.01 billion, a PE ratio of 6.01 and a beta of 1.32. The business's fifty day moving average is $28.56 and its 200 day moving average is $26.50. i3 Verticals has a 52 week low of $20.42 and a 52 week high of $33.44.

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.