i3 Verticals (NASDAQ:IIIV) Receives Buy (B-) Rating from Weiss Ratings

i3 Verticals (NASDAQ:IIIV - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research analysts have also weighed in on the company. DA Davidson increased their price objective on i3 Verticals from $34.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Zacks Research lowered i3 Verticals from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 1st. Morgan Stanley increased their price objective on i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Stephens increased their price objective on i3 Verticals from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Finally, Benchmark reissued a "buy" rating and issued a $39.00 price objective (up from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $34.33.

i3 Verticals Stock Performance

Shares of IIIV stock opened at $31.67 on Wednesday. The stock's 50-day simple moving average is $31.05 and its 200-day simple moving average is $27.67. The firm has a market capitalization of $1.02 billion, a PE ratio of 6.07 and a beta of 1.28. i3 Verticals has a fifty-two week low of $22.12 and a fifty-two week high of $33.59.

Insider Transactions at i3 Verticals

In other i3 Verticals news, CRO Paul Christians sold 1,890 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $31.40, for a total transaction of $59,346.00. Following the transaction, the executive owned 43,110 shares in the company, valued at approximately $1,353,654. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Paul Maple sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $31.04, for a total value of $77,600.00. Following the completion of the sale, the general counsel directly owned 33,269 shares in the company, valued at approximately $1,032,669.76. The trade was a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,272 shares of company stock worth $355,862 over the last quarter. 59.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans raised its stake in shares of i3 Verticals by 274.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 547,598 shares of the company's stock worth $15,048,000 after buying an additional 401,493 shares during the period. Ranger Investment Management L.P. raised its stake in shares of i3 Verticals by 0.3% during the 2nd quarter. Ranger Investment Management L.P. now owns 1,146,200 shares of the company's stock worth $31,498,000 after buying an additional 3,505 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of i3 Verticals by 229.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,220 shares of the company's stock worth $61,000 after buying an additional 1,547 shares during the period. Wasatch Advisors LP acquired a new position in shares of i3 Verticals during the 2nd quarter worth approximately $8,271,000. Finally, Manatuck Hill Partners LLC acquired a new position in shares of i3 Verticals during the 2nd quarter worth approximately $1,099,000. 84.22% of the stock is owned by institutional investors and hedge funds.

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.

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