Vertex, Inc. (NASDAQ:VERX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 3.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 455,028 shares of the company's stock after selling 14,498 shares during the period. Jennison Associates LLC owned approximately 0.29% of Vertex worth $24,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VERX. Brown Capital Management LLC purchased a new stake in Vertex in the 3rd quarter worth $20,938,000. Premier Fund Managers Ltd increased its stake in Vertex by 787.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company's stock worth $19,280,000 after buying an additional 465,610 shares during the period. Geneva Capital Management LLC raised its stake in shares of Vertex by 40.1% during the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company's stock valued at $55,863,000 after acquiring an additional 414,945 shares in the last quarter. State Street Corp lifted its holdings in shares of 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 during the period. Finally, Franklin Resources Inc. grew its holdings in Vertex by 17.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company's stock worth $69,444,000 after acquiring an additional 253,263 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total transaction of $166,341.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 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. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,605,417 shares of company stock valued at $180,941,809 in the last ninety days. Insiders own 44.58% of the company's stock.

Analysts Set New Price Targets

VERX has been the topic of a number of recent analyst reports. JMP Securities restated a "market outperform" rating and issued a $61.00 price target on shares of Vertex in a report on Monday, December 9th. Stifel Nicolaus increased their price objective on Vertex from $52.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Robert W. Baird upped their target price on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Citigroup raised their price target on shares of Vertex from $46.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group upped their price objective on shares of Vertex from $42.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Vertex presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.36.

Vertex Stock Down 1.9 %

Shares of VERX stock traded down $1.11 during trading hours on Friday, reaching $56.80. 455,832 shares of the stock were exchanged, compared to its average volume of 731,699. Vertex, Inc. has a 12-month low of $24.17 and a 12-month high of $60.71. The business's fifty day moving average is $54.94 and its two-hundred day moving average is $45.92. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $8.86 billion, a P/E ratio of 315.56, a P/E/G ratio of 8.49 and a beta of 0.78.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $170.40 million during the quarter, compared to analysts' expectations of $165.70 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company's revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. As a group, research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal 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.