65,528 Shares in i3 Verticals, Inc. $IIIV Purchased by TD Asset Management Inc

TD Asset Management Inc acquired a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 65,528 shares of the company’s stock, valued at approximately $1,801,000. TD Asset Management Inc owned approximately 0.20% of i3 Verticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC purchased a new stake in i3 Verticals during the 2nd quarter worth about $281,000. Janney Montgomery Scott LLC purchased a new stake in i3 Verticals during the 2nd quarter worth about $401,000. Argent Capital Management LLC increased its position in i3 Verticals by 5.5% during the 2nd quarter. Argent Capital Management LLC now owns 22,807 shares of the company’s stock worth $627,000 after purchasing an additional 1,180 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in i3 Verticals by 67.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 454,743 shares of the company’s stock worth $12,496,000 after purchasing an additional 182,699 shares in the last quarter. Finally, Rhumbline Advisers increased its position in i3 Verticals by 2.2% during the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company’s stock worth $896,000 after purchasing an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Analyst Ratings Changes

IIIV has been the subject of several recent analyst reports. DA Davidson lifted their price target on i3 Verticals from $34.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Benchmark restated a “buy” rating and issued a $39.00 price target (up previously from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Stephens lifted their price target on i3 Verticals from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, August 11th. Morgan Stanley lifted their price target on i3 Verticals from $25.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Finally, Zacks Research cut i3 Verticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 1st. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Insider Activity

In other news, Director Timothy Mckenna sold 6,882 shares of i3 Verticals stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total value of $218,916.42. Following the transaction, the director directly owned 3,876 shares of the company’s stock, valued at $123,295.56. The trade was a 63.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Paul Maple sold 2,500 shares of i3 Verticals stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $31.04, for a total value of $77,600.00. Following the completion of the transaction, the general counsel directly owned 33,269 shares in the company, valued at $1,032,669.76. This represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,272 shares of company stock valued at $355,862 in the last three months. Corporate insiders own 59.07% of the company’s stock.

i3 Verticals Price Performance

NASDAQ IIIV opened at $30.97 on Wednesday. The firm has a market capitalization of $999.09 million, a P/E ratio of 5.93 and a beta of 1.28. i3 Verticals, Inc. has a 1-year low of $22.20 and a 1-year high of $33.59. The business’s 50-day simple moving average is $31.43 and its 200-day simple moving average is $28.11.

i3 Verticals Company 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.