Confluence Investment Management LLC Decreases Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Confluence Investment Management LLC cut its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 2.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 292,629 shares of the company’s stock after selling 7,043 shares during the period. Confluence Investment Management LLC’s holdings in i3 Verticals were worth $6,742,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IIIV. Select Equity Group L.P. increased its holdings in shares of i3 Verticals by 1.8% in the 2nd quarter. Select Equity Group L.P. now owns 65,730 shares of the company’s stock worth $1,451,000 after buying an additional 1,147 shares during the last quarter. Victory Capital Management Inc. grew its position in i3 Verticals by 4.5% in the second quarter. Victory Capital Management Inc. now owns 45,700 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,950 shares in the last quarter. Argent Capital Management LLC increased its stake in i3 Verticals by 15.0% during the third quarter. Argent Capital Management LLC now owns 16,180 shares of the company’s stock worth $345,000 after acquiring an additional 2,114 shares during the last quarter. State Street Corp raised its position in i3 Verticals by 0.5% during the third quarter. State Street Corp now owns 495,943 shares of the company’s stock valued at $10,569,000 after purchasing an additional 2,664 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of i3 Verticals in the 3rd quarter valued at approximately $109,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

Shares of IIIV opened at $23.29 on Friday. The firm has a market capitalization of $781.15 million, a price-to-earnings ratio of 5.23 and a beta of 1.49. The company has a 50-day moving average of $23.81 and a 200 day moving average of $22.76. i3 Verticals, Inc. has a 1-year low of $17.54 and a 1-year high of $26.66.

Insider Activity

In other news, President Frederick Stanford sold 17,577 shares of the firm’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 owns 100,000 shares in the company, valued at approximately $2,528,000. This trade represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 34.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IIIV. Stephens reissued an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. Benchmark reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. BMO Capital Markets dropped their price target on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, October 3rd. Finally, DA Davidson reissued a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.14.

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.