Vertex, Inc. (NASDAQ:VERX) Shares Sold by Barclays PLC

Barclays PLC lessened its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 472,630 shares of the company's stock after selling 109,643 shares during the quarter. Barclays PLC owned 0.30% of Vertex worth $25,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in Vertex during the fourth quarter worth about $38,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Vertex in the fourth quarter valued at about $40,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex in the fourth quarter worth about $41,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex in the fourth quarter worth about $50,000. Finally, Assetmark Inc. purchased a new stake in shares of Vertex in the fourth quarter worth about $79,000. Hedge funds and other institutional investors own 70.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VERX. Robert W. Baird decreased their price objective on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. DA Davidson decreased their price objective on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group cut their target price on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group reduced their target price 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $60.00 price objective on shares of Vertex in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex currently has an average rating of "Moderate Buy" and a consensus target price of $50.73.

Vertex Stock Up 0.4 %

Shares of NASDAQ:VERX traded up $0.14 during trading hours on Thursday, reaching $39.85. The stock had a trading volume of 436,296 shares, compared to its average volume of 1,018,755. Vertex, Inc. has a 1 year low of $27.96 and a 1 year high of $60.71. The firm's 50 day moving average is $37.20 and its 200-day moving average is $46.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 221.19, a P/E/G ratio of 6.66 and a beta of 0.80.

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

Insider Activity at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the transaction, the general counsel now owns 132 shares of the company's stock, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 44.58% of the stock is currently owned by company insiders.

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.