Axiom Investors LLC DE Grows Stake in Vertex, Inc. (NASDAQ:VERX)

Axiom Investors LLC DE grew its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 503,578 shares of the company's stock after purchasing an additional 28,568 shares during the quarter. Axiom Investors LLC DE owned about 0.32% of Vertex worth $26,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock worth $37,000 after acquiring an additional 540 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Vertex during the 4th quarter valued at $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Vertex during the 4th quarter worth about $40,000. Plato Investment Management Ltd bought a new position in Vertex in the 4th quarter worth about $41,000. Finally, Armstrong Advisory Group Inc. purchased a new position in Vertex during the 4th quarter valued at about $50,000. 70.32% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total value of $1,555,343.44. Following the transaction, the general counsel now owns 132 shares in the company, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the sale, the insider now owns 1,229,257 shares of the company's stock, valued at $69,428,435.36. This represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.58% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

VERX has been the topic of a number of recent analyst reports. Stifel Nicolaus downgraded shares of Vertex from a "buy" rating to a "hold" rating and lowered their price target for the stock from $58.00 to $31.00 in a report on Friday, February 28th. Jefferies Financial Group cut their price target on shares of Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a report on Friday, February 28th. Citigroup boosted their price target on shares of Vertex from $46.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Raymond James reiterated a "market perform" rating on shares of Vertex in a research report on Friday, January 3rd. Finally, DA Davidson dropped their price objective on Vertex from $62.00 to $55.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex has a consensus rating of "Moderate Buy" and an average price target of $49.82.

Vertex Price Performance

Shares of Vertex stock traded down $0.86 during trading on Friday, hitting $34.98. 2,025,587 shares of the stock traded hands, compared to its average volume of 1,004,687. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 194.33, a PEG ratio of 6.66 and a beta of 0.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 52 week low of $27.22 and a 52 week high of $60.71. The firm's fifty day moving average is $42.32 and its 200-day moving average is $46.36.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). The business had revenue of $178.46 million for the quarter, compared to the consensus estimate of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Vertex Company Profile

Vertex, Inc, together with its subsidiaries, provides enterprise tax technology solutions for retail trade, wholesale trade, and manufacturing industries in the United States and internationally. The company offers tax determination; compliance and reporting, including workflow management tools, role-based security, and event logging; tax data management; document management; analytics and insights; pre-built integration that includes mapping data fields, and business logic and configurations; industry-specific solutions; and technology specific solutions, such as chain flow accelerator and SAP-specific tools.