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

i3 Verticals, Inc. (NASDAQ:IIIV) 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

i3 Verticals Stock Down 0.2 %

Shares of NASDAQ:IIIV opened at $24.80 on Friday. The company has a market capitalization of $831.79 million, a P/E ratio of 5.57 and a beta of 1.53. The stock’s fifty day simple moving average is $23.16 and its 200-day simple moving average is $22.07. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $26.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank raised its position in shares of i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after buying an additional 672 shares during the last quarter. Confluence Investment Management LLC lifted its stake in shares of i3 Verticals by 102.7% during the 2nd quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after purchasing an additional 155,338 shares during the period. SG Americas Securities LLC acquired a new stake in shares of i3 Verticals during the second quarter worth $116,000. Sequoia Financial Advisors LLC purchased a new stake in shares of i3 Verticals in the second quarter valued at $600,000. Finally, Assenagon Asset Management S.A. increased its stake in i3 Verticals by 33.2% in the second quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company’s stock valued at $9,474,000 after purchasing an additional 107,054 shares during the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IIIV shares. KeyCorp lowered their target price on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Raymond James dropped their price objective on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, August 12th. BMO Capital Markets decreased 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. Benchmark restated a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. Finally, Stephens reiterated an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, i3 Verticals has an average rating of “Moderate Buy” and an average target price of $27.14.

i3 Verticals Company Profile

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.