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

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have received an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $27.14.

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

Insider Activity

In other news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction 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 transaction, the president now directly owns 100,000 shares of the company’s stock, valued at $2,528,000. This represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IIIV. Comerica Bank lifted its holdings in i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after acquiring an additional 672 shares during the period. Quantbot Technologies LP bought a new position in i3 Verticals in the third quarter valued at about $109,000. SG Americas Securities LLC bought a new position in i3 Verticals in the second quarter valued at about $116,000. Atom Investors LP bought a new position in i3 Verticals in the third quarter valued at about $218,000. Finally, Sanctuary Advisors LLC bought a new position in i3 Verticals in the second quarter valued at about $292,000. 84.22% of the stock is owned by institutional investors.

i3 Verticals Stock Up 0.0 %

Shares of IIIV stock opened at $22.46 on Friday. The stock has a market cap of $753.31 million, a price-to-earnings ratio of 5.05 and a beta of 1.49. The business’s fifty day moving average is $23.70 and its 200 day moving average is $22.46. i3 Verticals has a twelve month low of $17.54 and a twelve month high of $26.66.

About i3 Verticals

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.