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 transaction of $59,346.00. Following the transaction, the executive owned 43,110 shares in the company, valued at approximately $1,353,654. This trade represents a 4.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

i3 Verticals Stock Performance

Shares of NASDAQ:IIIV traded up $0.44 during mid-day trading on Friday, reaching $30.58. 120,688 shares of the company's stock were exchanged, compared to its average volume of 220,313. The firm has a market capitalization of $986.51 million, a price-to-earnings ratio of 5.86 and a beta of 1.30. The business's fifty day moving average price is $29.66 and its 200-day moving average price is $26.63. i3 Verticals, Inc. has a twelve month low of $20.42 and a twelve month high of $33.44.

Hedge Funds Weigh In On i3 Verticals

Hedge funds have recently bought and sold shares of the company. Elevation Point Wealth Partners LLC bought a new position in i3 Verticals during the second quarter worth $26,000. NBC Securities Inc. increased its stake 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 purchasing an additional 1,125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 1,976 shares in the last quarter. BNP Paribas Financial Markets increased its stake in i3 Verticals by 65.5% in the second quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company's stock valued at $60,000 after purchasing an additional 870 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in i3 Verticals by 229.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,220 shares of the company's stock valued at $61,000 after purchasing an additional 1,547 shares in the last quarter. Institutional investors own 84.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of i3 Verticals from $25.00 to $30.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Benchmark reiterated a "buy" rating and set a $39.00 price target (up previously from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Stephens lifted their price target on shares of i3 Verticals from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Finally, DA Davidson lifted their target price on shares of i3 Verticals from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, i3 Verticals presently has a consensus 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.