Invesco Ltd. Boosts Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Invesco Ltd. raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 342.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,513,660 shares of the company's stock after buying an additional 1,171,576 shares during the quarter. Invesco Ltd. owned about 0.97% of Vertex worth $80,754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. State Street Corp grew its stake in Vertex by 36.4% in the 3rd quarter. State Street Corp now owns 1,361,901 shares of the company's stock worth $52,447,000 after buying an additional 363,595 shares in the last quarter. Barclays PLC grew its position in Vertex by 5.4% in the third quarter. Barclays PLC now owns 582,273 shares of the company's stock worth $22,424,000 after acquiring an additional 29,700 shares in the last quarter. Geode Capital Management LLC increased its stake in Vertex by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company's stock valued at $49,121,000 after acquiring an additional 37,592 shares during the last quarter. Franklin Resources Inc. raised its position in Vertex by 17.6% during the third quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company's stock valued at $69,444,000 after purchasing an additional 253,263 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Vertex by 29.4% during the third quarter. Lord Abbett & CO. LLC now owns 933,034 shares of the company's stock worth $35,932,000 after purchasing an additional 211,896 shares during the last quarter. Institutional investors own 70.32% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VERX. The Goldman Sachs Group decreased their price objective on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $60.00 price target on shares of Vertex in a research note on Thursday, March 20th. Raymond James reaffirmed a "market perform" rating on shares of Vertex in a research note on Friday, January 3rd. Stifel Nicolaus cut shares of Vertex from a "buy" rating to a "hold" rating and decreased their target price for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Finally, Morgan Stanley cut their price target on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday. Five investment 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.91.

Insider Activity at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,229,257 shares of the company's stock, valued at approximately $69,428,435.36. This trade represents a 4.20 % 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 link. Also, 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 value of $1,555,343.44. Following the completion of the sale, the general counsel now directly owns 132 shares in the company, valued at approximately $4,749.36. This represents a 99.70 % 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 corporate insiders.

Vertex Trading Up 0.5 %

VERX stock traded up $0.21 on Thursday, reaching $39.15. The company's stock had a trading volume of 463,827 shares, compared to its average volume of 1,026,174. The firm has a market cap of $6.19 billion, a PE ratio of 217.50, a PEG ratio of 6.66 and a beta of 0.80. The business has a fifty day simple moving average of $38.31 and a two-hundred day simple moving average of $46.35. Vertex, Inc. has a 12-month low of $27.22 and a 12-month high of $60.71. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The company had revenue of $178.46 million for 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%. As a group, research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Vertex 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.