i3 Verticals, Inc. (NASDAQ:IIIV) Receives $27.14 Average PT from Analysts

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven analysts that are currently covering the company, Marketbeat reports. Two 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. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $27.14.

Several research analysts recently weighed in on IIIV shares. BMO Capital Markets dropped their target price on shares of i3 Verticals from $23.00 to $21.00 and set a "market perform" rating for the company in a report on Thursday, October 3rd. Benchmark reissued a "buy" rating and issued a $33.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. Stephens reaffirmed an "overweight" rating and set a $29.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. Finally, DA Davidson reaffirmed a "buy" rating and set a $32.00 target price on shares of i3 Verticals in a research note on Monday, September 30th.

i3 Verticals Price Performance

Shares of IIIV stock traded up $0.08 during trading hours on Wednesday, reaching $23.93. 147,890 shares of the company traded hands, compared to its average volume of 407,898. The firm has a 50-day moving average price of $23.87 and a 200 day moving average price of $22.90. The company has a market cap of $802.61 million, a P/E ratio of 5.38 and a beta of 1.49. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $26.66.

Insider Activity

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the transaction, the president now owns 100,000 shares in the company, valued at $2,528,000. The trade was a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 34.00% of the company's stock.

Hedge Funds Weigh In On i3 Verticals

A number of large investors have recently bought and sold shares of IIIV. Bank of New York Mellon Corp boosted its holdings in shares of i3 Verticals by 13.3% in the second quarter. Bank of New York Mellon Corp now owns 120,116 shares of the company's stock valued at $2,652,000 after purchasing an additional 14,077 shares during the period. Rhumbline Advisers raised its position in i3 Verticals by 18.4% during the 2nd quarter. Rhumbline Advisers now owns 37,049 shares of the company's stock valued at $818,000 after purchasing an additional 5,755 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of i3 Verticals by 4.5% in the 2nd quarter. Victory Capital Management Inc. now owns 45,700 shares of the company's stock worth $1,009,000 after buying an additional 1,950 shares during the period. Dimensional Fund Advisors LP grew its position in shares of i3 Verticals by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 484,494 shares of the company's stock worth $10,698,000 after buying an additional 13,880 shares in the last quarter. Finally, Continental Advisors LLC purchased a new position in shares of i3 Verticals during the second quarter valued at $635,000. Hedge funds and other institutional investors own 84.22% of the company's stock.

i3 Verticals Company 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.