i3 Verticals, Inc. (NASDAQ:IIIV) Receives $27.14 Consensus Target Price from Analysts

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $27.14.

IIIV has been the topic of several recent research reports. Stephens restated an "overweight" rating and set a $29.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Benchmark restated a "buy" rating and issued a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th.

i3 Verticals Stock Down 0.1 %

Shares of NASDAQ IIIV traded down $0.03 during trading on Friday, hitting $25.50. 254,138 shares of the company traded hands, compared to its average volume of 273,906. i3 Verticals has a 1 year low of $17.54 and a 1 year high of $26.66. The company has a 50-day moving average price of $23.89 and a 200-day moving average price of $23.21. The firm has a market capitalization of $855.27 million, a P/E ratio of 5.73 and a beta of 1.51.

Insider Buying and Selling at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the transaction, the president now owns 100,000 shares in the company, valued at $2,528,000. This trade represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 59.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP boosted its stake in i3 Verticals by 11.1% in the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company's stock worth $10,417,000 after purchasing an additional 48,840 shares during the period. Barclays PLC raised its holdings in shares of i3 Verticals by 112.3% during the 3rd quarter. Barclays PLC now owns 41,036 shares of the company's stock valued at $873,000 after purchasing an additional 21,709 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of i3 Verticals during the 3rd quarter valued at $11,373,000. State Street Corp raised its holdings in i3 Verticals by 0.5% in the 3rd quarter. State Street Corp now owns 495,943 shares of the company's stock worth $10,569,000 after acquiring an additional 2,664 shares during the period. Finally, Long Path Partners LP raised its holdings in i3 Verticals by 61.5% in the 3rd quarter. Long Path Partners LP now owns 933,098 shares of the company's stock worth $19,884,000 after acquiring an additional 355,392 shares during the period. Institutional investors and hedge funds 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.