Analysts Set i3 Verticals, Inc. (NASDAQ:IIIV) Price Target at $27.14

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $27.14.

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

i3 Verticals Stock Performance

Shares of NASDAQ IIIV opened at $23.39 on Wednesday. The company’s fifty day moving average is $23.89 and its two-hundred day moving average is $22.91. The firm has a market capitalization of $784.50 million, a P/E ratio of 5.26 and a beta of 1.49. i3 Verticals has a one year low of $17.54 and a one year high of $26.66.

Insider Activity at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total value 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. This represents a 14.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 34.00% of the company’s stock.

Institutional Investors Weigh In On i3 Verticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IIIV. Bank of New York Mellon Corp lifted its holdings in i3 Verticals by 13.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 120,116 shares of the company’s stock valued at $2,652,000 after acquiring an additional 14,077 shares during the last quarter. Rhumbline Advisers lifted its stake in i3 Verticals by 18.4% during the second quarter. Rhumbline Advisers now owns 37,049 shares of the company’s stock valued at $818,000 after purchasing an additional 5,755 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in i3 Verticals by 4.5% during the second 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in i3 Verticals by 2.9% during the second 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 acquired a new position in i3 Verticals in the second quarter worth approximately $635,000. 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.