i3 Verticals, Inc. (NASDAQ:IIIV) Receives $29.86 Average Price Target from Brokerages

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has earned an average rating of "Moderate Buy" from the seven research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $29.57.

A number of brokerages recently commented on IIIV. BMO Capital Markets raised their target price on i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, February 10th. Morgan Stanley decreased their price target on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 13th. KeyCorp raised their price target on i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, DA Davidson raised their price target on i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, February 10th.

i3 Verticals Trading Down 0.8%

i3 Verticals stock traded down $0.20 during trading on Tuesday, reaching $26.20. The company had a trading volume of 282,575 shares, compared to its average volume of 233,847. i3 Verticals has a 52 week low of $18.75 and a 52 week high of $29.80. The firm's 50-day simple moving average is $24.87 and its 200 day simple moving average is $24.80. The firm has a market capitalization of $866.54 million, a price-to-earnings ratio of 5.84 and a beta of 1.31.

Insider Activity

In other 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 completion of the transaction, the chief financial officer now owns 55,000 shares in the company, valued at $1,460,800. This trade represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 now owns 260,657 shares of the company's stock, valued at approximately $6,466,900.17. The trade was a 45.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 377,261 shares of company stock worth $9,374,552 over the last 90 days. Corporate insiders own 59.07% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IIIV. Barclays PLC grew its position in shares of i3 Verticals by 112.3% during the third quarter. Barclays PLC now owns 41,036 shares of the company's stock valued at $873,000 after purchasing an additional 21,709 shares in the last quarter. Argent Capital Management LLC grew its position in i3 Verticals by 38.6% in the fourth quarter. Argent Capital Management LLC now owns 22,418 shares of the company's stock worth $517,000 after acquiring an additional 6,238 shares in the last quarter. SG Americas Securities LLC grew its position in i3 Verticals by 62.4% in the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company's stock worth $199,000 after acquiring an additional 3,323 shares in the last quarter. Equitable Trust Co. purchased a new position in i3 Verticals in the fourth quarter worth about $746,000. Finally, Legato Capital Management LLC purchased a new position in i3 Verticals in the fourth quarter worth about $4,233,000. Hedge funds and other institutional investors own 84.22% of the company's stock.

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.