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

Shares of i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $29.57.

IIIV has been the subject of a number of research analyst reports. Benchmark reissued a "buy" rating and set a $33.00 price target on shares of i3 Verticals in a research note on Monday, June 16th. Morgan Stanley decreased their target price on 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.

Insider Buying and Selling at i3 Verticals

In other news, Director John C. Harrison sold 78,597 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $1,949,991.57. Following the completion of the transaction, the director directly owned 3,876 shares of the company's stock, valued at approximately $96,163.56. The trade was a 95.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Geoffrey C. Smith sold 8,404 shares of the 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 sale, the chief financial officer directly owned 55,000 shares of the company's stock, valued at approximately $1,460,800. The trade was a 13.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 377,261 shares of company stock valued at $9,374,552 in the last 90 days. Insiders own 59.07% of the company's stock.

Hedge Funds Weigh In On i3 Verticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in i3 Verticals by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company's stock valued at $1,529,000 after buying an additional 1,404 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of i3 Verticals by 49.8% during the fourth quarter. Victory Capital Management Inc. now owns 72,652 shares of the company's stock valued at $1,674,000 after acquiring an additional 24,152 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of i3 Verticals in the 4th quarter valued at approximately $13,313,000. AlphaQuest LLC boosted its stake in i3 Verticals by 688,600.0% in the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company's stock worth $159,000 after purchasing an additional 6,886 shares in the last quarter. Finally, Swiss National Bank grew its position in i3 Verticals by 2.0% during the 4th quarter. Swiss National Bank now owns 46,700 shares of the company's stock worth $1,076,000 after purchasing an additional 900 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Trading Up 2.8%

Shares of IIIV traded up $0.78 during midday trading on Wednesday, hitting $28.59. The stock had a trading volume of 323,796 shares, compared to its average volume of 254,363. i3 Verticals has a 1 year low of $20.42 and a 1 year high of $29.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.18. The stock's 50 day moving average is $25.36 and its 200 day moving average is $25.02. The firm has a market cap of $949.67 million, a PE ratio of 6.50 and a beta of 1.24.

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.