i3 Verticals (NASDAQ:IIIV) Sees Unusually-High Trading Volume - Time to Buy?

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) saw an uptick in trading volume on Wednesday . 301,763 shares changed hands during mid-day 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

A number of research firms recently issued reports on IIIV. BMO Capital Markets lifted their target price on i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a report on Monday, February 10th. Morgan Stanley cut their target price on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 13th. KeyCorp raised their target price on shares of i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, 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 report on Monday, February 10th. Two 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. According to MarketBeat, i3 Verticals has an average rating of "Moderate Buy" and an average target price of $29.57.

i3 Verticals Stock Down 0.5%

The firm has a fifty day moving average of $25.05 and a 200-day moving average of $24.85. The stock has a market capitalization of $836.07 million, a price-to-earnings ratio of 5.61 and a beta of 1.31.

Insider Activity

In related news, CFO Geoffrey C. Smith sold 8,404 shares of the stock in a transaction that occurred 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 completion of 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 the SEC website. Also, Director David M. Wilds sold 218,400 shares of the firm'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 directly owns 260,657 shares in the company, valued at approximately $6,466,900.17. The trade was a 45.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 377,261 shares of company stock valued at $9,374,552 in the last three months. Corporate insiders own 59.07% of the company's stock.

Hedge Funds Weigh In On i3 Verticals

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

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.