Federated Hermes Inc. Has $36.86 Million Position in Vertex, Inc. (NASDAQ:VERX)

Federated Hermes Inc. lifted its position in Vertex, Inc. (NASDAQ:VERX - Free Report) by 53.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 690,957 shares of the company's stock after buying an additional 241,586 shares during the period. Federated Hermes Inc. owned approximately 0.44% of Vertex worth $36,863,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in Vertex during the fourth quarter worth about $38,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Vertex in the 4th quarter worth approximately $40,000. Plato Investment Management Ltd acquired a new position in shares of Vertex in the 4th quarter worth approximately $41,000. Armstrong Advisory Group Inc. bought a new stake in shares of Vertex in the 4th quarter worth approximately $50,000. Finally, Assetmark Inc. bought a new stake in Vertex during the fourth quarter worth approximately $79,000. Institutional investors and hedge funds own 70.32% of the company's stock.

Vertex Stock Up 0.8 %

Shares of NASDAQ:VERX traded up $0.30 during trading on Friday, reaching $38.48. 1,313,533 shares of the company traded hands, compared to its average volume of 1,023,078. The firm has a fifty day simple moving average of $39.42 and a 200 day simple moving average of $46.43. 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 1-year low of $27.22 and a 1-year high of $60.71. The firm has a market cap of $6.09 billion, a P/E ratio of 213.78, a price-to-earnings-growth ratio of 6.66 and a beta of 0.80.

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Vertex (NASDAQ:VERX - Get Free Report) last issued its 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 firm had revenue of $178.46 million during the quarter, compared to analysts' expectations of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on VERX shares. Robert W. Baird dropped their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Morgan Stanley upped their target price on Vertex from $57.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Stifel Nicolaus cut Vertex from a "buy" rating to a "hold" rating and dropped their price target for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Jefferies Financial Group reduced their price objective on shares of Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, The Goldman Sachs Group decreased their target price on shares of Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a report on Monday, March 3rd. 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $49.82.

Insider Transactions at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company'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 of the company's stock, valued at $4,749.36. This 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 available through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This trade represents 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 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.