i3 Verticals (NASDAQ:IIIV) Price Target Raised to $40.00 at Stephens

Key Points

• i3 Verticals' stock received an "overweight" rating from analysts at Stephens, with a new price target of $40.00, suggesting a potential upside of 26.14% from its current price.
• Institutional investors hold a significant stake in i3 Verticals, with 84.22% ownership, indicating strong institutional confidence in the company's prospects.
• Several insiders sold shares recently, including Director Robert Burton Harvey, who reduced his position by 86.43%, reflecting notable insider selling activity.

i3 Verticals (NASDAQ:IIIV - Get Free Report) had its target price increased by stock analysts at Stephens from $35.00 to $40.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has an "overweight" rating on the stock. Stephens' price objective would indicate a potential upside of 24.57% from the company's current price.

IIIV has been the subject of a number of other reports. Morgan Stanley dropped 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 report on Tuesday, May 13th. Benchmark reissued a "buy" rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Monday, June 16th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, i3 Verticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.71.

i3 Verticals Trading Up 2.1%

NASDAQ:IIIV traded up $0.65 on Monday, reaching $32.11. The company's stock had a trading volume of 256,384 shares, compared to its average volume of 301,470. i3 Verticals has a 12-month low of $20.42 and a 12-month high of $32.33. The stock has a 50 day moving average price of $27.31 and a 200 day moving average price of $26.11. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 6.15 and a beta of 1.32. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.02.

Insider Buying and Selling

In other news, CFO Geoffrey C. Smith sold 8,404 shares of i3 Verticals stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $26.56, for a total value of $223,210.24. Following the completion of the transaction, the chief financial officer owned 55,000 shares in the company, valued at approximately $1,460,800. This trade represents a 13.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 59.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geneva Capital Management LLC boosted its position in shares of i3 Verticals by 5.7% during the 2nd quarter. Geneva Capital Management LLC now owns 1,887,701 shares of the company's stock worth $51,874,000 after acquiring an additional 101,331 shares in the last quarter. Vanguard Group Inc. grew its position in i3 Verticals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company's stock worth $30,544,000 after purchasing an additional 19,342 shares during the last quarter. Long Path Partners LP lifted its position in i3 Verticals by 1.9% during the 1st quarter. Long Path Partners LP now owns 997,996 shares of the company's stock worth $24,621,000 after acquiring an additional 18,219 shares during the period. Forager Capital Management LLC purchased a new position in i3 Verticals during the 4th quarter worth $17,626,000. Finally, Portolan Capital Management LLC lifted its position in i3 Verticals by 3.5% in the fourth quarter. Portolan Capital Management LLC now owns 676,135 shares of the company's stock valued at $15,578,000 after purchasing an additional 23,063 shares during the period. Institutional investors and hedge funds 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.