i3 Verticals, Inc. (NASDAQ:IIIV) Receives $29.57 Consensus PT from Brokerages

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has been given an average rating of "Moderate Buy" by the seven ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-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 several analyst reports. Morgan Stanley cut their price target on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Benchmark reissued a "buy" rating and issued a $33.00 price target on shares of i3 Verticals in a report on Monday, June 16th.

i3 Verticals Stock Performance

IIIV traded up $0.39 on Wednesday, hitting $28.98. The company's stock had a trading volume of 184,027 shares, compared to its average volume of 254,940. The company's 50 day simple moving average is $25.57 and its 200-day simple moving average is $25.16. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.02. i3 Verticals has a 12 month low of $20.42 and a 12 month high of $29.80. The firm has a market cap of $962.72 million, a P/E ratio of 6.59 and a beta of 1.24.

Insider Activity at i3 Verticals

In related news, CFO Geoffrey C. Smith sold 8,404 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $26.56, for a total transaction of $223,210.24. Following the transaction, the chief financial officer directly owned 55,000 shares of the company's stock, valued at approximately $1,460,800. This trade represents a 13.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David M. Wilds sold 218,400 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $5,418,504.00. Following the transaction, the director directly owned 260,657 shares in the company, valued at approximately $6,466,900.17. This represents a 45.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 377,261 shares of company stock valued at $9,374,552 over the last ninety days. 59.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On i3 Verticals

Large investors have recently modified their holdings of the company. NBC Securities Inc. raised its position in i3 Verticals by 112,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock worth $27,000 after purchasing an additional 1,125 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in i3 Verticals by 2,744.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock worth $51,000 after purchasing an additional 1,976 shares during the period. Johnson Financial Group Inc. purchased a new position in i3 Verticals in the 4th quarter worth $72,000. KLP Kapitalforvaltning AS purchased a new position in i3 Verticals in the 4th quarter worth $99,000. Finally, CIBC Private Wealth Group LLC raised its position in i3 Verticals by 52.4% in the 4th 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. 84.22% of the stock is owned by hedge funds and other institutional investors.

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.