Brokerages Set i3 Verticals, Inc. (NASDAQ:IIIV) Target Price at $27.14

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 firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $27.14.

Several research firms recently weighed in on IIIV. DA Davidson reissued a “buy” rating and set a $32.00 price target on shares of i3 Verticals in a research report on Monday, September 30th. BMO Capital Markets lowered their price target 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. Stephens reaffirmed an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. 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.

Insider Buying and Selling at i3 Verticals

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the sale, the president now owns 100,000 shares of the company’s stock, valued at $2,528,000. This represents a 14.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 34.00% of the company’s stock.

Institutional Investors Weigh In On i3 Verticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in i3 Verticals by 112.3% in the third quarter. Barclays PLC now owns 41,036 shares of the company’s stock valued at $873,000 after acquiring an additional 21,709 shares during the last quarter. Bares Capital Management Inc. bought a new position in shares of i3 Verticals in the 3rd quarter valued at about $334,000. ABS Direct Equity Fund LLC grew its position in shares of i3 Verticals by 40.0% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 35,000 shares of the company’s stock worth $746,000 after buying an additional 10,000 shares during the period. State Street Corp raised its stake in shares of i3 Verticals by 0.5% during the third quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after buying an additional 2,664 shares during the last quarter. Finally, Portolan Capital Management LLC lifted its holdings in 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 during the period. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Trading Down 2.3 %

NASDAQ IIIV opened at $23.39 on Wednesday. i3 Verticals has a 1 year low of $17.54 and a 1 year high of $26.66. The company has a market cap of $784.50 million, a PE ratio of 5.26 and a beta of 1.49. The stock’s 50-day moving average price is $23.89 and its two-hundred day moving average price is $22.91.

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.