i3 Verticals, Inc. (NASDAQ:IIIV) President Frederick Stanford Sells 17,577 Shares

i3 Verticals, Inc. (NASDAQ:IIIV) 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 value of $444,346.56. Following the transaction, the president now directly owns 100,000 shares in the company, valued at $2,528,000. This trade 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 at this link.

i3 Verticals Price Performance

IIIV stock opened at $24.80 on Monday. The firm has a market capitalization of $831.79 million, a P/E ratio of 5.57 and a beta of 1.53. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $26.66. The company’s 50 day simple moving average is $23.22 and its 200-day simple moving average is $22.11.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. BMO Capital Markets decreased 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. Stephens reiterated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research note on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. DA Davidson reiterated a “buy” rating and set a $32.00 price target on shares of i3 Verticals in a research report on Monday, September 30th. Finally, Raymond James dropped their price target on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.14.

Institutional Investors Weigh In On i3 Verticals

Institutional investors have recently bought and sold shares of the business. Long Path Partners LP purchased a new position in shares of i3 Verticals during the 2nd quarter valued at $12,756,000. TimesSquare Capital Management LLC acquired a new position in i3 Verticals in the third quarter worth approximately $11,373,000. Mason Capital Management LLC acquired a new stake in i3 Verticals in the second quarter valued at approximately $7,443,000. Confluence Investment Management LLC grew its position in i3 Verticals by 102.7% in the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after acquiring an additional 155,338 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of i3 Verticals by 33.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company’s stock worth $9,474,000 after purchasing an additional 107,054 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

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.