Confluence Investment Management LLC Sells 14,482 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Confluence Investment Management LLC cut its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 278,147 shares of the company’s stock after selling 14,482 shares during the quarter. Confluence Investment Management LLC owned about 0.84% of i3 Verticals worth $6,862,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Barclays PLC lifted its position in i3 Verticals by 112.3% during the third quarter. Barclays PLC now owns 41,036 shares of the company’s stock valued at $873,000 after acquiring an additional 21,709 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of i3 Verticals by 1,855.9% during the fourth quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock worth $4,051,000 after purchasing an additional 166,843 shares in the last quarter. Swiss National Bank lifted its holdings in shares of i3 Verticals by 2.0% during the 4th quarter. Swiss National Bank now owns 46,700 shares of the company’s stock valued at $1,076,000 after purchasing an additional 900 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of i3 Verticals by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company’s stock worth $1,529,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of i3 Verticals in the 4th quarter worth $13,313,000. 84.22% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Geoffrey C. Smith sold 8,404 shares of i3 Verticals stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $26.56, for a total transaction of $223,210.24. Following the completion of the transaction, the chief financial officer now directly owns 55,000 shares in the company, valued at approximately $1,460,800. This trade represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David M. Wilds sold 218,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $5,418,504.00. Following the completion of the sale, the director now owns 260,657 shares in the company, valued at approximately $6,466,900.17. This represents 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 ninety days. Insiders own 59.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on IIIV. KeyCorp increased their price target on i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley cut their price objective on shares of i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 13th. DA Davidson lifted their target price on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, BMO Capital Markets boosted their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, i3 Verticals currently has a consensus rating of “Moderate Buy” and an average target price of $29.57.

i3 Verticals Trading Up 0.8%

Shares of NASDAQ:IIIV opened at $25.29 on Friday. i3 Verticals, Inc. has a twelve month low of $18.77 and a twelve month high of $29.80. The company has a market cap of $840.06 million, a PE ratio of 5.63 and a beta of 1.31. The company’s 50 day moving average is $25.06 and its 200 day moving average is $24.86.

i3 Verticals 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.