i3 Verticals (NASDAQ:IIIV) Sees Large Volume Increase - Time to Buy?

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) saw strong trading volume on Wednesday . 301,763 shares traded hands during trading, an increase of 28% from the previous session's volume of 236,237 shares.The stock last traded at $25.05 and had previously closed at $25.33.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. KeyCorp increased their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. DA Davidson boosted their target price on i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Finally, Morgan Stanley reduced their price target on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Two equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.57.

i3 Verticals Price Performance

The company's 50-day moving average is $25.05 and its 200-day moving average is $24.85. The firm has a market capitalization of $791.56 million, a price-to-earnings ratio of 5.31 and a beta of 1.31.

Insider Transactions at i3 Verticals

In other news, Director Robert Burton Harvey sold 71,860 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $1,782,846.60. Following the completion of the sale, the director now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Wilds sold 218,400 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 260,657 shares in the company, valued at $6,466,900.17. This trade represents a 45.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 377,261 shares of company stock worth $9,374,552 in the last ninety days. Insiders own 59.07% of the company's stock.

Hedge Funds Weigh In On i3 Verticals

A number of institutional investors have recently made changes to their positions in the business. AltraVue Capital LLC bought a new stake in shares of i3 Verticals in the 4th quarter valued at approximately $20,993,000. Forager Capital Management LLC acquired a new position in i3 Verticals in the fourth quarter worth $17,626,000. Raymond James Financial Inc. bought a new stake in i3 Verticals during the fourth quarter valued at $13,313,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of i3 Verticals during the first quarter worth $11,207,000. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of i3 Verticals in the 1st quarter worth about $10,018,000. 84.22% of the stock is owned by institutional investors and hedge funds.

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.