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

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $29.57.

IIIV has been the subject of several research reports. BMO Capital Markets lifted their price target on i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, February 10th. DA Davidson boosted their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, February 10th. KeyCorp increased their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Morgan Stanley cut 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.

i3 Verticals Trading Down 0.1%

i3 Verticals stock opened at $24.83 on Friday. The company has a market cap of $824.78 million, a P/E ratio of 5.53 and a beta of 1.31. i3 Verticals has a 1-year low of $18.85 and a 1-year high of $29.80. The company has a fifty day simple moving average of $25.02 and a 200 day simple moving average of $24.86.

Insider Buying and Selling at i3 Verticals

In other i3 Verticals news, Director John C. Harrison sold 78,597 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $1,949,991.57. Following the transaction, the director now owns 3,876 shares in the company, valued at approximately $96,163.56. This represents a 95.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Geoffrey C. Smith sold 8,404 shares of the company'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 now owns 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 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 quarter. 59.07% of the stock is owned by insiders.

Institutional Investors Weigh In On i3 Verticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL lifted its holdings in i3 Verticals by 0.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 92,516 shares of the company's stock worth $2,132,000 after buying an additional 475 shares during the last quarter. Invesco Ltd. increased its position in i3 Verticals by 2.6% during the 4th quarter. Invesco Ltd. now owns 25,292 shares of the company's stock worth $583,000 after purchasing an additional 649 shares during the period. Pitcairn Co. lifted its holdings in i3 Verticals by 4.0% in the fourth quarter. Pitcairn Co. now owns 17,183 shares of the company's stock valued at $396,000 after acquiring an additional 657 shares during the period. Sei Investments Co. increased its holdings in i3 Verticals by 5.7% in the fourth quarter. Sei Investments Co. now owns 14,294 shares of the company's stock valued at $329,000 after buying an additional 770 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in i3 Verticals by 2.2% during the first quarter. Rhumbline Advisers now owns 36,331 shares of the company's stock worth $896,000 after purchasing an additional 786 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company's stock.

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.

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