Barclays PLC Boosts Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Barclays PLC grew its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 112.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,036 shares of the company’s stock after acquiring an additional 21,709 shares during the period. Barclays PLC’s holdings in i3 Verticals were worth $873,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in IIIV. Bank of New York Mellon Corp raised its position in shares of i3 Verticals by 13.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 120,116 shares of the company’s stock valued at $2,652,000 after purchasing an additional 14,077 shares during the last quarter. Rhumbline Advisers lifted its holdings in i3 Verticals by 18.4% in the second quarter. Rhumbline Advisers now owns 37,049 shares of the company’s stock valued at $818,000 after acquiring an additional 5,755 shares during the period. Victory Capital Management Inc. raised its position in shares of i3 Verticals by 4.5% in the second quarter. Victory Capital Management Inc. now owns 45,700 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,950 shares during the period. Dimensional Fund Advisors LP increased its position in shares of i3 Verticals by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 484,494 shares of the company’s stock valued at $10,698,000 after buying an additional 13,880 shares in the last quarter. Finally, Continental Advisors LLC acquired a new stake in shares of i3 Verticals in the second quarter valued at about $635,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV opened at $23.04 on Wednesday. i3 Verticals, Inc. has a 12 month low of $17.54 and a 12 month high of $26.66. The firm has a market capitalization of $772.76 million, a P/E ratio of 5.18 and a beta of 1.49. The company’s fifty day moving average price is $23.79 and its 200 day moving average price is $22.74.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stephens reiterated an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. Benchmark reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. BMO Capital Markets dropped their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, October 3rd. Finally, DA Davidson restated a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research note on Monday, September 30th. Two research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.14.

Insider Transactions at i3 Verticals

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction 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 approximately $2,528,000. This trade represents a 14.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 34.00% of the company’s stock.

i3 Verticals 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.