i3 Verticals (NASDAQ:IIIV) Trading Down 5.3% – Should You Sell?

i3 Verticals, Inc. (NASDAQ:IIIV)’s share price fell 5.3% during trading on Monday . The company traded as low as $24.77 and last traded at $24.81. 153,970 shares were traded during mid-day trading, a decline of 34% from the average session volume of 233,579 shares. The stock had previously closed at $26.20.

Analyst Upgrades and Downgrades

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

i3 Verticals Stock Down 3.5%

The stock has a market cap of $839.39 million, a PE ratio of 5.63 and a beta of 1.31. The company has a fifty day moving average price of $24.87 and a 200 day moving average price of $24.82.

Insider Activity at i3 Verticals

In related news, Director David M. Wilds sold 218,400 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $5,418,504.00. Following the transaction, the director now owns 260,657 shares in the company, valued at $6,466,900.17. The trade was a 45.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Geoffrey C. Smith sold 8,404 shares of the business’s stock in a transaction dated 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 owns 55,000 shares in the company, valued at approximately $1,460,800. This represents a 13.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 377,261 shares of company stock worth $9,374,552 in the last 90 days. Company insiders own 59.07% of the company’s stock.

Institutional Trading of i3 Verticals

Large investors have recently bought and sold shares of the company. NBC Securities Inc. boosted its position in i3 Verticals by 112,500.0% during the 1st 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in i3 Verticals by 2,744.4% during the 1st 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 in the last quarter. Johnson Financial Group Inc. bought a new stake in i3 Verticals during the 4th quarter valued at approximately $72,000. KLP Kapitalforvaltning AS bought a new stake in shares of i3 Verticals in the 4th quarter worth approximately $99,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of i3 Verticals by 52.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock worth $126,000 after purchasing an additional 1,809 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

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.