Assenagon Asset Management S.A. Reduces Stock Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

Assenagon Asset Management S.A. trimmed its position in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 90.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,970 shares of the company's stock after selling 327,855 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of i3 Verticals worth $760,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. TimesSquare Capital Management LLC purchased a new stake in i3 Verticals in the 3rd quarter worth approximately $11,373,000. Long Path Partners LP raised its position in shares of i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company's stock worth $19,884,000 after buying an additional 355,392 shares in the last quarter. Shellback Capital LP boosted its stake in i3 Verticals by 39.6% during the second quarter. Shellback Capital LP now owns 181,652 shares of the company's stock valued at $4,011,000 after buying an additional 51,565 shares during the period. Royce & Associates LP grew its position in i3 Verticals by 11.1% during the third quarter. Royce & Associates LP now owns 488,840 shares of the company's stock worth $10,417,000 after buying an additional 48,840 shares in the last quarter. Finally, Portolan Capital Management LLC grew its position in i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company's stock worth $13,917,000 after buying an additional 23,921 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IIIV shares. Stephens reiterated an "overweight" rating and set a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. 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 research report on Thursday, October 3rd. DA Davidson reissued a "buy" rating and issued a $32.00 price target on shares of i3 Verticals in a report on Monday, September 30th. Finally, Benchmark reaffirmed a "buy" rating and set a $33.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, i3 Verticals currently has an average rating of "Moderate Buy" and an average price target of $27.14.

i3 Verticals Trading Up 2.0 %

Shares of IIIV traded up $0.47 during mid-day trading on Friday, reaching $24.31. The company's stock had a trading volume of 277,745 shares, compared to its average volume of 214,262. i3 Verticals, Inc. has a 52 week low of $17.54 and a 52 week high of $26.66. The company's fifty day moving average price is $23.68 and its two-hundred day moving average price is $23.09. The stock has a market cap of $815.36 million, a PE ratio of 5.46 and a beta of 1.49.

Insiders Place Their Bets

In other news, President Frederick Stanford sold 17,577 shares of the 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 sale, the president now owns 100,000 shares of the company's stock, valued at approximately $2,528,000. This represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 59.07% of the stock is currently owned by insiders.

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.