Frederick Stanford Sells 17,577 Shares of i3 Verticals, Inc. (NASDAQ:IIIV) Stock

i3 Verticals, Inc. (NASDAQ:IIIV) President Frederick Stanford sold 17,577 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total value of $444,346.56. Following the completion of the sale, the president now directly 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 is accessible through this link.

i3 Verticals Stock Down 0.2 %

Shares of IIIV stock traded down $0.06 during mid-day trading on Friday, reaching $24.80. The stock had a trading volume of 144,976 shares, compared to its average volume of 223,748. The firm has a market cap of $831.79 million, a PE ratio of 5.61 and a beta of 1.53. i3 Verticals, Inc. has a one year low of $17.54 and a one year high of $26.66. The firm’s 50 day simple moving average is $23.16 and its 200 day simple moving average is $22.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of i3 Verticals in the second quarter valued at $600,000. Confluence Investment Management LLC increased its position in i3 Verticals by 102.7% in the 2nd quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock valued at $6,768,000 after acquiring an additional 155,338 shares in the last quarter. Long Path Partners LP bought a new position in shares of i3 Verticals in the second quarter worth about $12,756,000. Royce & Associates LP lifted its position in shares of i3 Verticals by 11.1% during the third quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock worth $10,417,000 after purchasing an additional 48,840 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in shares of i3 Verticals during the third quarter valued at approximately $11,373,000. 84.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stephens reiterated an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Raymond James cut their price objective on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. Benchmark reaffirmed a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. DA Davidson reiterated a “buy” rating and set a $32.00 price target on shares of i3 Verticals in a report on Monday, September 30th. Finally, BMO Capital Markets lowered their price objective on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.14.

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.