Paul Christians Sells 1,890 Shares of i3 Verticals (NASDAQ:IIIV) Stock

Key Points

• Paul Christians, the CRO of i3 Verticals, sold 1,890 shares of the company's stock for a total of $59,346, resulting in a 4.20% decrease in his ownership.
• After the sale, Christians retains 43,110 shares, valued at approximately $1.35 million, indicating significant personal investment in i3 Verticals.
• Analysts have raised their target prices for i3 Verticals, with several firms now setting targets between $30.00 and $40.00, reflecting a positive outlook on the stock.

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) CRO Paul Christians sold 1,890 shares of i3 Verticals stock in a transaction on Friday, August 29th. The stock was sold at an average price of $31.40, for a total value of $59,346.00. Following the sale, the executive directly owned 43,110 shares of the company's stock, valued at $1,353,654. This represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

i3 Verticals Stock Down 2.6%

Shares of IIIV traded down $0.82 during midday trading on Tuesday, reaching $30.63. 178,353 shares of the stock were exchanged, compared to its average volume of 295,921. i3 Verticals, Inc. has a twelve month low of $20.42 and a twelve month high of $33.44. The company has a market cap of $988.12 million, a P/E ratio of 5.87 and a beta of 1.30. The stock's 50 day simple moving average is $29.31 and its 200 day simple moving average is $26.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its position in i3 Verticals by 2,744.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after acquiring an additional 1,976 shares during the last quarter. Avantax Advisory Services Inc. grew its position in i3 Verticals by 8.5% in the first quarter. Avantax Advisory Services Inc. now owns 17,473 shares of the company's stock valued at $431,000 after acquiring an additional 1,368 shares during the last quarter. Squarepoint Ops LLC bought a new position in i3 Verticals in the fourth quarter valued at about $294,000. NBC Securities Inc. grew its position in i3 Verticals by 112,500.0% in the first quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock valued at $27,000 after acquiring an additional 1,125 shares during the last quarter. Finally, Rhumbline Advisers grew its position in i3 Verticals by 2.2% in the first quarter. Rhumbline Advisers now owns 36,331 shares of the company's stock valued at $896,000 after acquiring an additional 786 shares during the last quarter. Institutional investors own 84.22% of the company's stock.

Analysts Set New Price Targets

IIIV has been the subject of a number of research reports. Stephens lifted their target price on i3 Verticals from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Benchmark reissued a "buy" rating and set a $39.00 target price (up previously from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Morgan Stanley raised their price target on i3 Verticals from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Finally, DA Davidson raised their price target on i3 Verticals from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $34.33.

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.

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