Morgan Stanley Has Lowered Expectations for i3 Verticals (NASDAQ:IIIV) Stock Price

i3 Verticals (NASDAQ:IIIV - Free Report) had its price target trimmed by Morgan Stanley from $27.00 to $25.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms have also weighed in on IIIV. DA Davidson boosted their target price on i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, February 10th. KeyCorp boosted their target price on i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, BMO Capital Markets boosted their target price on i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.57.

i3 Verticals Trading Down 0.8%

Shares of i3 Verticals stock traded down $0.20 on Tuesday, reaching $26.20. 282,575 shares of the company were exchanged, compared to its average volume of 233,849. i3 Verticals has a one year low of $18.75 and a one year high of $29.80. The company has a market capitalization of $866.54 million, a price-to-earnings ratio of 5.84 and a beta of 1.31. The company has a 50-day moving average of $24.87 and a 200 day moving average of $24.79.

Insider Buying and Selling at i3 Verticals

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $26.56, for a total value of $223,210.24. Following the transaction, the chief financial officer now directly owns 55,000 shares of the company's stock, valued at $1,460,800. This represents a 13.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John C. Harrison sold 78,597 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $1,949,991.57. Following the completion of the transaction, the director now directly 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 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 ninety days. 59.07% of the stock is currently owned by corporate insiders.

Institutional Trading of i3 Verticals

A number of institutional investors have recently modified their holdings of IIIV. Barclays PLC lifted its position in shares of i3 Verticals by 112.3% during the 3rd quarter. Barclays PLC now owns 41,036 shares of the company's stock valued at $873,000 after acquiring an additional 21,709 shares during the period. Argent Capital Management LLC lifted its position in shares of i3 Verticals by 38.6% during the 4th quarter. Argent Capital Management LLC now owns 22,418 shares of the company's stock valued at $517,000 after acquiring an additional 6,238 shares during the period. SG Americas Securities LLC lifted its position in shares of i3 Verticals by 62.4% during the 4th quarter. SG Americas Securities LLC now owns 8,646 shares of the company's stock valued at $199,000 after acquiring an additional 3,323 shares during the period. Equitable Trust Co. bought a new stake in shares of i3 Verticals during the 4th quarter valued at $746,000. Finally, Legato Capital Management LLC bought a new stake in shares of i3 Verticals during the 4th quarter valued at $4,233,000. 84.22% of the stock is currently owned by institutional investors.

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.