i3 Verticals, Inc. (NASDAQ:IIIV) Receives $27.14 Average PT from Analysts

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research 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 1 year price objective among brokers that have issued a report on the stock in the last year is $27.14.

Several equities analysts have recently issued reports on IIIV shares. Benchmark reaffirmed a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research note on Tuesday, November 19th. Stephens restated an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th.

Insiders Place Their Bets

In other news, President Frederick Stanford sold 17,577 shares of the firm’s stock in a transaction 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 approximately $2,528,000. This trade represents a 14.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 59.07% of the company’s stock.

Hedge Funds Weigh In On i3 Verticals

Several institutional investors have recently bought and sold shares of IIIV. New York State Common Retirement Fund increased its holdings in shares of i3 Verticals by 1,855.9% during the 4th quarter. New York State Common Retirement Fund now owns 175,833 shares of the company’s stock valued at $4,051,000 after acquiring an additional 166,843 shares during the last quarter. Legato Capital Management LLC acquired a new position in i3 Verticals during the fourth quarter valued at approximately $4,233,000. Equitable Trust Co. bought a new position in shares of i3 Verticals in the fourth quarter valued at approximately $746,000. SG Americas Securities LLC lifted its stake in shares of i3 Verticals by 62.4% in the fourth quarter. SG Americas Securities LLC now owns 8,646 shares of the company’s stock worth $199,000 after buying an additional 3,323 shares during the last quarter. Finally, Argent Capital Management LLC boosted its holdings in shares of i3 Verticals by 38.6% during the 4th quarter. Argent Capital Management LLC now owns 22,418 shares of the company’s stock worth $517,000 after buying an additional 6,238 shares during the period. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Price Performance

i3 Verticals stock opened at $25.53 on Friday. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $26.66. The stock has a market capitalization of $856.28 million, a PE ratio of 5.74 and a beta of 1.51. The firm has a 50 day simple moving average of $23.88 and a 200-day simple moving average of $23.20.

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.