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

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

Several research analysts recently weighed in on IIIV shares. Benchmark reissued a "buy" rating and set a $33.00 price target on shares of i3 Verticals in a research report on Monday, June 16th. Morgan Stanley dropped their price target on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th.

Insider Transactions at i3 Verticals

In related news, Director Robert Burton Harvey sold 71,860 shares of the 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 completion of the sale, the director directly owned 11,285 shares in the company, valued at approximately $279,980.85. This trade represents a 86.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Wilds sold 218,400 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $5,418,504.00. Following the sale, the director owned 260,657 shares of the company's stock, 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 in the last three months. 59.07% of the stock is currently owned by insiders.

Institutional Trading of i3 Verticals

A number of institutional investors and hedge funds have recently made changes to their positions in IIIV. NBC Securities Inc. lifted its position in shares of i3 Verticals by 112,500.0% in the first quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock worth $27,000 after buying an additional 1,125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of i3 Verticals by 2,744.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock worth $51,000 after buying an additional 1,976 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of i3 Verticals in the fourth quarter worth about $72,000. KLP Kapitalforvaltning AS acquired a new stake in shares of i3 Verticals in the fourth quarter worth about $99,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of i3 Verticals by 52.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock worth $126,000 after buying an additional 1,809 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company's stock.

i3 Verticals Stock Up 0.7%

NASDAQ:IIIV opened at $28.69 on Friday. The firm has a market capitalization of $953.08 million, a price-to-earnings ratio of 6.52 and a beta of 1.24. i3 Verticals has a 1-year low of $20.42 and a 1-year high of $30.10. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.02. The business's fifty day moving average price is $26.45 and its 200 day moving average price is $25.70.

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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