Brokerages Set i3 Verticals, Inc. (NASDAQ:IIIV) PT at $29.57

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $29.57.

Several equities research analysts recently weighed in on the stock. KeyCorp raised their price target 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. DA Davidson lifted their price objective on i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, February 10th. BMO Capital Markets upped their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. Finally, Morgan Stanley reduced 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 research note on Tuesday, May 13th.

Insider Transactions at i3 Verticals

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $26.56, for a total transaction of $223,210.24. Following the completion of the sale, the chief financial officer now directly owns 55,000 shares of the company's stock, valued at approximately $1,460,800. This represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Burton Harvey sold 71,860 shares of i3 Verticals stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $1,782,846.60. Following the transaction, the director now owns 11,285 shares in the company, valued at $279,980.85. This represents a 86.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 377,261 shares of company stock worth $9,374,552 in the last quarter. Company insiders own 59.07% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IIIV. AltraVue Capital LLC purchased a new stake in i3 Verticals in the 4th quarter worth approximately $20,993,000. Forager Capital Management LLC bought a new position in shares of i3 Verticals in the fourth quarter worth approximately $17,626,000. Raymond James Financial Inc. bought a new position in shares of i3 Verticals in the fourth quarter worth approximately $13,313,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of i3 Verticals in the first quarter worth $11,207,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of i3 Verticals during the 1st quarter valued at $10,018,000. Institutional investors own 84.22% of the company's stock.

i3 Verticals Stock Performance

Shares of IIIV traded down $0.01 during trading hours on Friday, hitting $24.79. The company had a trading volume of 203,441 shares, compared to its average volume of 247,452. The stock has a market capitalization of $823.45 million, a price-to-earnings ratio of 5.52 and a beta of 1.22. The firm has a fifty day moving average price of $25.03 and a 200-day moving average price of $24.88. i3 Verticals has a 52-week low of $19.13 and a 52-week high of $29.80.

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.