State Street Corp Acquires 2,664 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

State Street Corp increased its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 495,943 shares of the company’s stock after acquiring an additional 2,664 shares during the quarter. State Street Corp owned about 1.47% of i3 Verticals worth $10,569,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Royce & Associates LP grew its position 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 last quarter. Long Path Partners LP acquired a new stake in i3 Verticals during the second quarter worth about $12,756,000. TimesSquare Capital Management LLC acquired a new stake in i3 Verticals during the third quarter worth about $11,373,000. Mason Capital Management LLC bought a new position in i3 Verticals during the second quarter valued at about $7,443,000. Finally, Sanctuary Advisors LLC acquired a new position in i3 Verticals in the 2nd quarter valued at approximately $292,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Stock Performance

Shares of NASDAQ IIIV opened at $24.02 on Friday. The business has a fifty day moving average of $23.76 and a two-hundred day moving average of $22.64. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $26.66. The stock has a market cap of $805.63 million, a PE ratio of 5.40 and a beta of 1.49.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. Stephens reissued an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. BMO Capital Markets dropped their price objective on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, October 3rd. Finally, DA Davidson reiterated a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.14.

Insider Activity at i3 Verticals

In related 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 sale, the president now directly owns 100,000 shares in the company, valued at $2,528,000. This represents a 14.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 34.00% of the stock is currently owned by insiders.

i3 Verticals 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.