i3 Verticals (NASDAQ:IIIV) Earns "Buy" Rating from Benchmark

Key Points

• Benchmark Analyst has raised the price target for i3 Verticals from $33.00 to $39.00, suggesting a potential upside of 22.99% based on the company's previous close.
• Multiple analysts have given i3 Verticals a mix of ratings, with the consensus being a Moderate Buy and an average target price of $32.00.
• Insider trading revealed significant sales by company directors, with cumulative insider sales of 377,261 shares worth over $9 million in the last three months.

i3 Verticals (NASDAQ:IIIV - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Benchmark in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $39.00 price objective on the stock, up from their prior price objective of $33.00. Benchmark's target price would suggest a potential upside of 23.75% from the stock's current price.

Other analysts also recently issued research reports about the stock. Morgan Stanley cut their price objective on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. Stephens restated an "overweight" rating and set a $40.00 price target (up previously from $35.00) on shares of i3 Verticals in a report on Monday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $34.33.

i3 Verticals Trading Down 1.3%

IIIV stock traded down $0.43 during mid-day trading on Monday, reaching $31.52. The company's stock had a trading volume of 119,318 shares, compared to its average volume of 300,056. The stock has a market cap of $1.05 billion, a PE ratio of 6.04 and a beta of 1.32. i3 Verticals has a fifty-two week low of $20.42 and a fifty-two week high of $33.44. The company's 50 day moving average is $27.75 and its two-hundred day moving average is $26.25.

Insiders Place Their Bets

In related news, Director Timothy Mckenna sold 6,882 shares of i3 Verticals stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $31.81, for a total value of $218,916.42. Following the completion of the sale, the director owned 3,876 shares in the company, valued at approximately $123,295.56. This trade represents a 63.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 59.07% of the company's stock.

Institutional Trading of i3 Verticals

Several institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in i3 Verticals by 2,744.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after buying an additional 1,976 shares during the period. Avantax Advisory Services Inc. boosted its position in i3 Verticals by 8.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 17,473 shares of the company's stock valued at $431,000 after buying an additional 1,368 shares during the period. Squarepoint Ops LLC purchased a new position in i3 Verticals in the 4th quarter valued at approximately $294,000. NBC Securities Inc. boosted its position in i3 Verticals by 112,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock valued at $27,000 after buying an additional 1,125 shares during the period. Finally, Rhumbline Advisers boosted its position in i3 Verticals by 2.2% in the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company's stock valued at $896,000 after buying an additional 786 shares during the period. Institutional investors and hedge funds 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.