i3 Verticals, Inc. (NASDAQ:IIIV) Given Average Rating of “Moderate Buy” by Analysts

i3 Verticals, Inc. (NASDAQ:IIIV) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $27.14.

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

Insider Activity at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the president now owns 100,000 shares of the company’s stock, valued at $2,528,000. The trade was a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 34.00% of the company’s stock.

Institutional Trading of i3 Verticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank grew its position in shares of 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 purchasing an additional 672 shares during the period. Quantbot Technologies LP purchased a new stake in i3 Verticals in the 3rd quarter valued at about $109,000. SG Americas Securities LLC acquired a new position in shares of i3 Verticals during the 2nd quarter valued at about $116,000. Atom Investors LP purchased a new position in shares of i3 Verticals during the 3rd quarter worth about $218,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of i3 Verticals in the second quarter worth approximately $292,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $23.34 on Friday. The stock has a market capitalization of $782.82 million, a price-to-earnings ratio of 5.24 and a beta of 1.49. i3 Verticals has a 1 year low of $17.54 and a 1 year high of $26.66. The stock has a fifty day moving average price of $23.69 and a two-hundred day moving average price of $22.49.

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.