i3 Verticals (NASDAQ:IIIV) Sets New 1-Year High - What's Next?

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $30.05 and last traded at $29.91, with a volume of 48289 shares traded. The stock had previously closed at $29.61.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IIIV shares. Morgan Stanley lowered their price target 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. Benchmark reissued a "buy" rating and issued a $33.00 price objective on shares of i3 Verticals in a research note on Monday, June 16th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, i3 Verticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.57.

i3 Verticals Price Performance

The company has a market capitalization of $938.13 million, a price-to-earnings ratio of 6.42 and a beta of 1.24. The company's 50 day simple moving average is $25.88 and its 200-day simple moving average is $25.31. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.02.

Insider Activity at i3 Verticals

In other news, Director David M. Wilds sold 218,400 shares of the 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 directly owned 260,657 shares in the company, valued at $6,466,900.17. This represents a 45.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Harrison sold 78,597 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 transaction of $1,949,991.57. Following the transaction, the director owned 3,876 shares in the company, valued at approximately $96,163.56. The trade was a 95.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 377,261 shares of company stock valued at $9,374,552. Insiders own 59.07% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IIIV. AltraVue Capital LLC purchased a new position in i3 Verticals in the fourth quarter valued at approximately $20,993,000. Forager Capital Management LLC purchased a new position in i3 Verticals in the fourth quarter valued at approximately $17,626,000. Raymond James Financial Inc. purchased a new position in i3 Verticals in the fourth quarter valued at approximately $13,313,000. Punch & Associates Investment Management Inc. acquired a new stake in i3 Verticals in the first quarter valued at approximately $11,207,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in i3 Verticals in the first quarter valued at approximately $10,018,000. Hedge funds and other institutional investors own 84.22% of the company's stock.

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.