i3 Verticals (NASDAQ:IIIV) Sets New 1-Year High – What’s Next?

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $27.00 and last traded at $27.08, with a volume of 748 shares. The stock had previously closed at $25.68.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IIIV. Benchmark reaffirmed a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Stephens restated an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.14.

i3 Verticals Price Performance

The stock has a 50 day simple moving average of $23.91 and a 200-day simple moving average of $23.23. The firm has a market cap of $927.35 million, a PE ratio of 6.24 and a beta of 1.51.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.88% and a net margin of 37.35%. As a group, equities analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

Insider Activity at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of i3 Verticals 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 in the company, valued at approximately $2,528,000. This trade represents a 14.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 59.07% of the stock is owned by insiders.

Institutional Trading of i3 Verticals

A number of large investors have recently made changes to their positions in IIIV. Royce & Associates LP grew its position in i3 Verticals by 11.1% in the 3rd 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 during the period. Barclays PLC grew its holdings in shares of i3 Verticals by 112.3% in the third quarter. Barclays PLC now owns 41,036 shares of the company’s stock worth $873,000 after acquiring an additional 21,709 shares during the period. TimesSquare Capital Management LLC purchased a new stake in i3 Verticals during the third quarter valued at $11,373,000. State Street Corp lifted its holdings in i3 Verticals by 0.5% in the third quarter. State Street Corp now owns 495,943 shares of the company’s stock valued at $10,569,000 after acquiring an additional 2,664 shares during the period. Finally, Long Path Partners LP boosted its position in i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after purchasing an additional 355,392 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors.

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.