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

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) have been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $27.14.

Several brokerages have weighed in on IIIV. Benchmark reiterated a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. DA Davidson reiterated a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Stephens restated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Finally, 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 report on Thursday, October 3rd.

Insiders Place Their Bets

In related news, President Frederick Stanford sold 17,577 shares of the firm’s stock in a transaction dated 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 sale, the president now 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 Securities & Exchange Commission, which is available at this link. Insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IIIV. Barclays PLC boosted its stake in shares of i3 Verticals by 112.3% during the 3rd quarter. Barclays PLC now owns 41,036 shares of the company’s stock worth $873,000 after acquiring an additional 21,709 shares in the last quarter. Bares Capital Management Inc. acquired a new position in i3 Verticals during the third quarter worth $334,000. ABS Direct Equity Fund LLC boosted its position in i3 Verticals by 40.0% during the third quarter. ABS Direct Equity Fund LLC now owns 35,000 shares of the company’s stock worth $746,000 after purchasing an additional 10,000 shares in the last quarter. State Street Corp grew its holdings in i3 Verticals by 0.5% in 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 last quarter. Finally, Portolan Capital Management LLC increased its position in shares of i3 Verticals by 3.8% in the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock valued at $13,917,000 after buying an additional 23,921 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Stock Performance

Shares of IIIV opened at $23.85 on Wednesday. The company has a market capitalization of $799.93 million, a price-to-earnings ratio of 5.36 and a beta of 1.49. i3 Verticals has a fifty-two week low of $17.54 and a fifty-two week high of $26.66. The firm has a 50-day simple moving average of $23.85 and a 200-day simple moving average of $22.89.

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.