EAM Global Investors LLC Makes New $3.94 Million Investment in Vertex, Inc. (NASDAQ:VERX)

EAM Global Investors LLC bought a new stake in Vertex, Inc. (NASDAQ:VERX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 73,837 shares of the company's stock, valued at approximately $3,939,000.

Several other institutional investors and hedge funds have also made changes to their positions in VERX. Invesco Ltd. boosted its stake in Vertex by 342.5% during the 4th quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock valued at $80,754,000 after acquiring an additional 1,171,576 shares during the last quarter. FMR LLC increased its stake in Vertex by 25.4% during the 4th quarter. FMR LLC now owns 2,868,438 shares of the company's stock valued at $153,031,000 after buying an additional 580,664 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Vertex by 1,100.4% in the fourth quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock valued at $30,530,000 after buying an additional 524,572 shares during the period. abrdn plc lifted its holdings in Vertex by 74.9% in the 4th quarter. abrdn plc now owns 1,029,177 shares of the company's stock valued at $55,035,000 after acquiring an additional 440,832 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Vertex by 26.0% during the fourth quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company's stock valued at $113,587,000 after purchasing an additional 439,054 shares during the last quarter. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Stock Down 3.1 %

Shares of Vertex stock traded down $1.21 during trading hours on Monday, reaching $38.04. 231,994 shares of the company's stock were exchanged, compared to its average volume of 1,031,333. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The company has a 50 day moving average of $37.71 and a two-hundred day moving average of $46.42. The stock has a market cap of $6.02 billion, a P/E ratio of 211.33, a P/E/G ratio of 6.66 and a beta of 0.80. Vertex, Inc. has a fifty-two week low of $27.22 and a fifty-two week high of $60.71.

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

Insider Buying and Selling

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction that occurred 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 sale, the general counsel now owns 132 shares in the company, valued at $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the transaction, the insider now owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. The trade was a 4.20 % decrease in their position. The disclosure for this sale can be found here. 44.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VERX has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their target price on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group reduced their price objective on Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price target on shares of Vertex in a research report on Thursday, March 20th. DA Davidson lowered their target price on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Raymond James reissued a "market perform" rating on shares of Vertex in a report on Friday, January 3rd. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.91.

About Vertex

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.