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

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

Several research firms have recently commented on IIIV. Stephens reaffirmed an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. BMO Capital Markets reduced their target price on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, October 3rd. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research note on Monday, September 30th. Finally, Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th.

i3 Verticals Price Performance

Shares of IIIV stock opened at $23.39 on Wednesday. The company has a market capitalization of $784.50 million, a PE ratio of 5.26 and a beta of 1.49. The firm’s 50-day moving average is $23.89 and its two-hundred day moving average is $22.98. i3 Verticals has a 12 month low of $17.54 and a 12 month high of $26.66.

Insider Buying and Selling

In other news, President Frederick Stanford sold 17,577 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total value of $444,346.56. Following the sale, the president now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 34.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On i3 Verticals

A number of hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in shares of i3 Verticals during the third quarter worth approximately $109,000. Atom Investors LP purchased a new stake in shares of i3 Verticals in the 3rd quarter valued at approximately $218,000. Sanctuary Advisors LLC purchased a new stake in shares of i3 Verticals in the 2nd quarter valued at approximately $292,000. Bares Capital Management Inc. acquired a new stake in shares of i3 Verticals in the 3rd quarter valued at $334,000. Finally, Argent Capital Management LLC lifted its position in shares of i3 Verticals by 15.0% during the 3rd quarter. Argent Capital Management LLC now owns 16,180 shares of the company’s stock worth $345,000 after purchasing an additional 2,114 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

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.