i3 Verticals, Inc. (NASDAQ:IIIV) Director Robert Burton Harvey Sells 71,860 Shares of Stock

i3 Verticals, Inc. (NASDAQ:IIIV) Director Robert Burton Harvey sold 71,860 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $1,782,846.60. Following the completion of the transaction, the director now directly owns 11,285 shares in the company, valued at $279,980.85. This represents a 86.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

i3 Verticals Stock Performance

Shares of IIIV stock opened at $26.40 on Friday. i3 Verticals, Inc. has a 1 year low of $18.75 and a 1 year high of $29.80. The firm has a market capitalization of $873.15 million, a PE ratio of 5.88 and a beta of 1.31. The stock has a fifty day moving average of $24.82 and a two-hundred day moving average of $24.77.

Institutional Investors Weigh In On i3 Verticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. raised its position in shares of i3 Verticals by 112,500.0% during the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company’s stock worth $27,000 after buying an additional 1,125 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $51,000 after purchasing an additional 1,976 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of i3 Verticals in the 4th quarter worth $72,000. KLP Kapitalforvaltning AS bought a new stake in shares of i3 Verticals in the 4th quarter worth $99,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of i3 Verticals by 52.4% in the fourth 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 during the period. 84.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IIIV. DA Davidson increased their price target on i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. BMO Capital Markets increased their target price 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. Morgan Stanley cut their target price on i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, KeyCorp upped their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, i3 Verticals presently has a consensus rating of “Moderate Buy” and an average target price 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.