i3 Verticals, Inc. (NASDAQ:IIIV) CFO Geoffrey C. Smith Sells 8,404 Shares of Stock

i3 Verticals, Inc. (NASDAQ:IIIV) CFO Geoffrey C. Smith sold 8,404 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $26.56, for a total transaction of $223,210.24. Following the transaction, the chief financial officer now owns 55,000 shares of the company’s stock, valued at $1,460,800. This trade represents a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

i3 Verticals Stock Performance

IIIV stock opened at $26.40 on Friday. The firm has a 50 day moving average price of $24.82 and a 200-day moving average price of $24.77. i3 Verticals, Inc. has a 52-week low of $18.75 and a 52-week high of $29.80. The firm has a market capitalization of $873.15 million, a price-to-earnings ratio of 5.88 and a beta of 1.31.

Hedge Funds Weigh In On i3 Verticals

Several large investors have recently made changes to their positions in IIIV. NBC Securities Inc. increased its position in shares of i3 Verticals by 112,500.0% during the first quarter. NBC Securities Inc. now owns 1,126 shares of the company’s stock valued at $27,000 after acquiring an additional 1,125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of i3 Verticals by 2,744.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company’s stock worth $51,000 after acquiring an additional 1,976 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of i3 Verticals during the 4th quarter worth $72,000. KLP Kapitalforvaltning AS purchased a new position in shares of i3 Verticals during the 4th quarter worth $99,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of i3 Verticals by 52.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company’s stock valued at $126,000 after buying an additional 1,809 shares in the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IIIV shares. Morgan Stanley reduced their price target on shares of i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. BMO Capital Markets upped their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, February 10th. KeyCorp upped their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, DA Davidson upped their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.57.

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.