i3 Verticals (NASDAQ:IIIV) Sees Strong Trading Volume – Here’s Why

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) saw an uptick in trading volume on Thursday . 511,433 shares traded hands during trading, an increase of 79% from the previous session’s volume of 285,546 shares.The stock last traded at $24.03 and had previously closed at $24.35.

Analyst Ratings Changes

Several research firms have issued reports on IIIV. Stephens reaffirmed an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. BMO Capital Markets dropped 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 research report on Thursday, October 3rd. DA Davidson reissued a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Finally, Benchmark reissued a “buy” rating and issued a $33.00 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.14.

i3 Verticals Stock Down 2.1 %

The company’s 50 day moving average is $23.71 and its 200 day moving average is $23.06. The firm has a market capitalization of $799.59 million, a price-to-earnings ratio of 5.36 and a beta of 1.49.

Insider Activity at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total value of $444,346.56. Following the transaction, the president now directly owns 100,000 shares in the company, valued at approximately $2,528,000. This represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 59.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On i3 Verticals

Large investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in i3 Verticals during the third quarter worth about $109,000. SG Americas Securities LLC boosted its stake in shares of i3 Verticals by 62.4% in the 4th quarter. SG Americas Securities LLC now owns 8,646 shares of the company’s stock valued at $199,000 after purchasing an additional 3,323 shares in the last quarter. Atom Investors LP acquired a new stake in shares of i3 Verticals in the 3rd quarter valued at approximately $218,000. Sanctuary Advisors LLC acquired a new stake in shares of i3 Verticals in the 2nd quarter valued at approximately $292,000. Finally, Bares Capital Management Inc. acquired a new stake in shares of i3 Verticals in the 3rd quarter valued at approximately $334,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

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.