i3 Verticals, Inc. (NASDAQ:IIIV) Director John C. Harrison Sells 78,597 Shares

i3 Verticals, Inc. (NASDAQ:IIIV) Director John C. Harrison sold 78,597 shares of i3 Verticals stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $1,949,991.57. Following the transaction, the director now owns 3,876 shares of the company’s stock, valued at $96,163.56. The trade was a 95.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

i3 Verticals Stock Down 1.3%

IIIV opened at $26.40 on Friday. The stock’s fifty day moving average is $24.82 and its two-hundred day moving average is $24.77. The company has a market capitalization of $873.15 million, a P/E ratio of 5.88 and a beta of 1.31. i3 Verticals, Inc. has a 52 week low of $18.75 and a 52 week high of $29.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its position in shares of i3 Verticals by 0.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 92,516 shares of the company’s stock worth $2,132,000 after purchasing an additional 475 shares in the last quarter. Invesco Ltd. raised its stake in shares of i3 Verticals by 2.6% during the 4th quarter. Invesco Ltd. now owns 25,292 shares of the company’s stock valued at $583,000 after buying an additional 649 shares during the last quarter. Pitcairn Co. raised its stake in shares of i3 Verticals by 4.0% during the 4th quarter. Pitcairn Co. now owns 17,183 shares of the company’s stock valued at $396,000 after buying an additional 657 shares during the last quarter. Sei Investments Co. increased its stake in shares of i3 Verticals by 5.7% in the 4th quarter. Sei Investments Co. now owns 14,294 shares of the company’s stock valued at $329,000 after purchasing an additional 770 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of i3 Verticals by 2.2% in the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company’s stock valued at $896,000 after purchasing an additional 786 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 brokerages have issued reports on IIIV. DA Davidson lifted their price objective on i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Morgan Stanley reduced their price objective on i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday. KeyCorp upped their price target on i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, BMO Capital Markets upped their price target on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, February 10th. Two investment 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, the company currently has an average rating of “Moderate Buy” and an average 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.