i3 Verticals, Inc. (NASDAQ:IIIV) Receives $29.57 Average PT from Analysts

Key Points

• i3 Verticals, Inc. has received an average analyst rating of "Moderate Buy" with a twelve-month price target of $29.57, based on ratings from seven firms.
• Insider selling has been significant, with directors selling a combined total of 377,261 shares valued at over $9 million in the past three months, representing notable decreases in their ownership.
• Institutional investors hold 84.22% of i3 Verticals' stock, reflecting strong institutional interest amid recent trading activity.

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the stock, MarketBeat reports. Two investment 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 12-month target price among analysts that have updated their coverage on the stock in the last year is $29.57.

A number of analysts recently weighed in on the stock. Morgan Stanley lowered 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 reaffirmed a "buy" rating and set a $33.00 target price on shares of i3 Verticals in a report on Monday, June 16th.

Insider Buying and Selling at i3 Verticals

In other i3 Verticals news, Director John C. Harrison sold 78,597 shares of i3 Verticals stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $1,949,991.57. Following the completion of the sale, the director 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Burton Harvey sold 71,860 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $1,782,846.60. Following the completion of the transaction, the director directly owned 11,285 shares of the company's stock, valued at $279,980.85. This trade represents a 86.43% 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 quarter. 59.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On i3 Verticals

Institutional investors and hedge funds have recently made changes to their positions in the company. AltraVue Capital LLC acquired a new position in shares of i3 Verticals during the 4th quarter worth about $20,993,000. Forager Capital Management LLC bought a new stake in i3 Verticals in the 4th quarter valued at about $17,626,000. Punch & Associates Investment Management Inc. bought a new stake in i3 Verticals in the 1st quarter valued at about $11,207,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of i3 Verticals during the 1st quarter worth approximately $10,018,000. Finally, Visualize Group LP bought a new stake in shares of i3 Verticals during the 1st quarter worth approximately $7,013,000. Institutional investors and hedge funds own 84.22% of the company's stock.

i3 Verticals Price Performance

IIIV traded down $0.17 during midday trading on Friday, reaching $28.48. 330,321 shares of the company's stock were exchanged, compared to its average volume of 298,094. The firm has a market capitalization of $946.11 million, a price-to-earnings ratio of 6.47 and a beta of 1.24. 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 one year low of $20.42 and a one year high of $30.10. The business has a 50-day simple moving average of $26.65 and a two-hundred day simple moving average of $25.79.

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.