i3 Verticals (NASDAQ:IIIV) Sees Unusually-High Trading Volume – What’s Next?

i3 Verticals, Inc. (NASDAQ:IIIV) shares saw unusually-high trading volume on Wednesday . Approximately 301,763 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 236,237 shares.The stock last traded at $25.05 and had previously closed at $25.33.

Wall Street Analyst Weigh In

Several brokerages have commented on IIIV. KeyCorp lifted their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. DA Davidson increased their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, February 10th. BMO Capital Markets lifted their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, February 10th. Finally, Morgan Stanley reduced their price target on shares of i3 Verticals from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.57.

i3 Verticals Stock Performance

The stock has a 50 day moving average of $25.06 and a two-hundred day moving average of $24.86. The stock has a market cap of $836.60 million, a PE ratio of 5.67 and a beta of 1.31.

Insider Transactions at i3 Verticals

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $26.56, for a total transaction of $223,210.24. Following the completion of the transaction, the chief financial officer now owns 55,000 shares of the company’s stock, valued at $1,460,800. This represents a 13.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David M. Wilds sold 218,400 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total value of $5,418,504.00. Following the transaction, the director now owns 260,657 shares in the company, valued at $6,466,900.17. The trade was a 45.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 377,261 shares of company stock worth $9,374,552. Insiders own 59.07% of the company’s stock.

Institutional Investors Weigh In On i3 Verticals

Several hedge funds have recently bought and sold shares of the business. Gamco Investors INC. ET AL increased its stake in i3 Verticals by 0.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 92,516 shares of the company’s stock worth $2,132,000 after acquiring an additional 475 shares during the last quarter. Invesco Ltd. increased its stake in i3 Verticals by 2.6% during the fourth quarter. Invesco Ltd. now owns 25,292 shares of the company’s stock worth $583,000 after acquiring an additional 649 shares during the last quarter. Pitcairn Co. raised its position in i3 Verticals by 4.0% in the 4th quarter. Pitcairn Co. now owns 17,183 shares of the company’s stock valued at $396,000 after purchasing an additional 657 shares in the last quarter. Sei Investments Co. increased its holdings in shares of i3 Verticals by 5.7% in the 4th quarter. Sei Investments Co. now owns 14,294 shares of the company’s stock valued at $329,000 after acquiring an additional 770 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of i3 Verticals by 2.2% in the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company’s stock valued at $896,000 after purchasing an additional 786 shares during the last quarter. Institutional investors 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.