Confluence Investment Management LLC Sells 7,043 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Confluence Investment Management LLC cut its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 292,629 shares of the company’s stock after selling 7,043 shares during the quarter. Confluence Investment Management LLC owned 0.87% of i3 Verticals worth $6,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IIIV. Quantbot Technologies LP bought a new stake in i3 Verticals in the 3rd quarter worth approximately $109,000. Atom Investors LP purchased a new position in shares of i3 Verticals in the 3rd quarter worth $218,000. Sanctuary Advisors LLC bought a new stake in shares of i3 Verticals in the second quarter worth $292,000. Bares Capital Management Inc. purchased a new stake in i3 Verticals during the third quarter valued at $334,000. Finally, Argent Capital Management LLC lifted its holdings in i3 Verticals by 15.0% in the third quarter. Argent Capital Management LLC now owns 16,180 shares of the company’s stock valued at $345,000 after acquiring an additional 2,114 shares during the period. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Stock Performance

IIIV opened at $23.29 on Friday. i3 Verticals, Inc. has a fifty-two week low of $17.54 and a fifty-two week high of $26.66. The stock has a market cap of $781.15 million, a price-to-earnings ratio of 5.23 and a beta of 1.49. The firm’s fifty day moving average is $23.81 and its 200 day moving average is $22.76.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stephens restated an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. DA Davidson restated a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. BMO Capital Markets decreased 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. Finally, Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, i3 Verticals currently has an average rating of “Moderate Buy” and a consensus price target of $27.14.

Insider Activity

In other news, President Frederick Stanford sold 17,577 shares of the business’s stock in a transaction on 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 owns 100,000 shares of the company’s stock, valued at approximately $2,528,000. The trade was a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 34.00% 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.