Empowered Funds LLC acquired a new position in Vertex, Inc. (NASDAQ:VERX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,038 shares of the company's stock, valued at approximately $3,363,000.
Several other large investors have also recently bought and sold shares of VERX. Brown Capital Management LLC purchased a new position in Vertex in the third quarter worth $20,938,000. Premier Fund Managers Ltd increased its position in shares of Vertex by 787.0% in the third quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company's stock valued at $19,280,000 after buying an additional 465,610 shares in the last quarter. abrdn plc increased its position in shares of Vertex by 74.9% in the fourth quarter. abrdn plc now owns 1,029,177 shares of the company's stock valued at $55,035,000 after buying an additional 440,832 shares in the last quarter. Geneva Capital Management LLC increased its position in shares of Vertex by 40.1% in the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company's stock valued at $55,863,000 after buying an additional 414,945 shares in the last quarter. Finally, State Street Corp increased its position in shares of Vertex by 36.4% in the third quarter. State Street Corp now owns 1,361,901 shares of the company's stock valued at $52,447,000 after buying an additional 363,595 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on VERX. Raymond James restated a "market perform" rating on shares of Vertex in a research report on Friday, January 3rd. BMO Capital Markets raised their price target on Vertex from $42.00 to $52.00 and gave the company a "market perform" rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price target on Vertex from $42.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. JMP Securities restated a "market outperform" rating and issued a $61.00 price target on shares of Vertex in a research report on Monday, December 9th. Finally, Needham & Company LLC raised their price target on Vertex from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $55.36.
Read Our Latest Stock Analysis on Vertex
Insiders Place Their Bets
In other Vertex news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total value of $166,341.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the transaction, the insider now directly owns 1,229,257 shares in the company, 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. In the last ninety days, insiders have sold 952,825 shares of company stock valued at $51,112,003. Insiders own 44.58% of the company's stock.
Vertex Trading Up 2.2 %
NASDAQ:VERX traded up $1.02 during mid-day trading on Friday, reaching $46.51. The company's stock had a trading volume of 1,357,307 shares, compared to its average volume of 731,699. The company's fifty day simple moving average is $54.36 and its two-hundred day simple moving average is $46.42. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. Vertex, Inc. has a twelve month low of $24.17 and a twelve month high of $60.71. The stock has a market cap of $7.25 billion, a P/E ratio of 258.39, a P/E/G ratio of 8.49 and a beta of 0.78.
Vertex Profile
(
Free Report)
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.
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