Brokerages Set i3 Verticals, Inc. (NASDAQ:IIIV) PT at $34.33

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%.

Shares of i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $34.3333.

Several research firms recently commented on IIIV. Benchmark reissued a "buy" rating and set a $39.00 target price (up from $33.00) on shares of i3 Verticals in a research note on Monday, August 11th. Morgan Stanley upped their price target on shares of i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Stephens upped their price target on shares of i3 Verticals from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Finally, DA Davidson upped their price target on shares of i3 Verticals from $34.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th.

Insider Activity at i3 Verticals

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 completion of the sale, the director owned 3,876 shares in the company, valued at approximately $123,295.56. This represents a 63.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 59.07% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in i3 Verticals by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,619 shares of the company's stock valued at $237,000 after buying an additional 402 shares during the period. Invesco Ltd. increased its stake in i3 Verticals by 2.6% in the 4th quarter. Invesco Ltd. now owns 25,292 shares of the company's stock valued at $583,000 after buying an additional 649 shares during the period. Rhumbline Advisers increased its stake in i3 Verticals by 2.2% in the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company's stock valued at $896,000 after buying an additional 786 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake 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 purchasing an additional 796 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of i3 Verticals by 65.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company's stock worth $60,000 after purchasing an additional 870 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company's stock.

i3 Verticals Stock Performance

Shares of NASDAQ:IIIV traded down $0.32 during trading on Thursday, reaching $30.74. The company had a trading volume of 167,043 shares, compared to its average volume of 288,650. The firm's fifty day moving average is $28.82 and its 200 day moving average is $26.55. The firm has a market capitalization of $991.67 million, a PE ratio of 5.89 and a beta of 1.32. i3 Verticals has a twelve month low of $20.42 and a twelve month 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.