i3 Verticals (NASDAQ:IIIV) Given New $25.00 Price Target at Morgan Stanley

i3 Verticals (NASDAQ:IIIV - Free Report) had its price target reduced by Morgan Stanley from $27.00 to $25.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms also recently weighed in on IIIV. DA Davidson boosted their price target on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. KeyCorp boosted their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, BMO Capital Markets boosted their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.57.

i3 Verticals Stock Down 0.8%

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

Insider Buying and Selling at i3 Verticals

In related news, Director Robert Burton Harvey sold 71,860 shares of the business's stock in a transaction dated 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 transaction, the director now owns 11,285 shares in the company, valued at $279,980.85. The trade was a 86.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Wilds sold 218,400 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $5,418,504.00. Following the transaction, the director now owns 260,657 shares in the company, valued at $6,466,900.17. This represents a 45.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 377,261 shares of company stock worth $9,374,552. 59.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On i3 Verticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of i3 Verticals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company's stock valued at $30,544,000 after buying an additional 19,342 shares during the period. Long Path Partners LP grew its holdings in i3 Verticals by 1.9% in the first quarter. Long Path Partners LP now owns 997,996 shares of the company's stock worth $24,621,000 after purchasing an additional 18,219 shares during the period. AltraVue Capital LLC purchased a new stake in i3 Verticals in the fourth quarter worth about $20,993,000. Forager Capital Management LLC purchased a new stake in i3 Verticals in the fourth quarter worth about $17,626,000. Finally, Portolan Capital Management LLC grew its holdings in i3 Verticals by 3.5% in the fourth quarter. Portolan Capital Management LLC now owns 676,135 shares of the company's stock worth $15,578,000 after purchasing an additional 23,063 shares during the period. 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.