i3 Verticals, Inc. (NASDAQ:IIIV) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.57.

Separately, Morgan Stanley cut their target price on shares of i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 13th.

Insider Buying and Selling

In related news, CFO Geoffrey C. Smith sold 8,404 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $26.56, for a total value of $223,210.24. Following the transaction, the chief financial officer now directly owns 55,000 shares in the company, valued at $1,460,800. This represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Harrison sold 78,597 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $1,949,991.57. Following the completion of the transaction, the director now owns 3,876 shares in the company, valued at $96,163.56. This represents a 95.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 377,261 shares of company stock worth $9,374,552 over the last three months. 59.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On i3 Verticals

Large investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in i3 Verticals by 112.3% in the third quarter. Barclays PLC now owns 41,036 shares of the company’s stock valued at $873,000 after buying an additional 21,709 shares during the period. New York State Common Retirement Fund increased its stake in i3 Verticals by 1,855.9% in the fourth quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock valued at $4,051,000 after purchasing an additional 166,843 shares in the last quarter. Swiss National Bank increased its stake in i3 Verticals by 2.0% in the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in i3 Verticals by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 66,350 shares of the company’s stock valued at $1,529,000 after purchasing an additional 1,404 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in i3 Verticals in the fourth quarter valued at approximately $294,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Stock Down 0.1%

IIIV stock opened at $24.76 on Friday. i3 Verticals has a 12-month low of $19.15 and a 12-month high of $29.80. The company has a market cap of $822.45 million, a price-to-earnings ratio of 5.51 and a beta of 1.22. The company has a 50 day moving average of $25.05 and a two-hundred day moving average of $24.88.

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.