Sei Investments Co. boosted its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 86,284 shares of the company's stock after purchasing an additional 7,430 shares during the period. Sei Investments Co. owned 0.06% of Vertex worth $4,603,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Fairman Group LLC purchased a new stake in shares of Vertex in the fourth quarter worth approximately $327,000. Empowered Funds LLC purchased a new stake in Vertex in the 4th quarter worth approximately $3,363,000. Triasima Portfolio Management inc. purchased a new stake in Vertex in the 4th quarter worth approximately $3,135,000. Principal Financial Group Inc. boosted its stake in shares of Vertex by 1,100.4% during the 4th 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. Finally, Callan Family Office LLC purchased a new position in shares of Vertex during the 4th quarter valued at $534,000. 70.32% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Vertex
In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the 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 owns 1,229,257 shares of the company's stock, valued at $69,428,435.36. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total value of $1,555,343.44. Following the sale, the general counsel now directly 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 disclosure for this sale can be found here. Insiders own 44.58% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on VERX. Morgan Stanley lifted their price objective on Vertex from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. DA Davidson reduced their price target on Vertex from $62.00 to $55.00 and set a "buy" rating for the company in a report on Friday, February 28th. JMP Securities restated a "market outperform" rating and issued a $61.00 price objective on shares of Vertex in a report on Monday, December 9th. Raymond James reaffirmed a "market perform" rating on shares of Vertex in a research report on Friday, January 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $60.00 target price on shares of Vertex in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Vertex has an average rating of "Moderate Buy" and an average target price of $49.82.
Read Our Latest Analysis on VERX
Vertex Stock Performance
Shares of NASDAQ VERX traded up $0.77 during trading hours on Monday, hitting $35.75. 1,735,329 shares of the stock were exchanged, compared to its average volume of 1,007,792. The firm has a market capitalization of $5.66 billion, a P/E ratio of 198.61, a P/E/G ratio of 6.66 and a beta of 0.80. Vertex, Inc. has a one year low of $27.22 and a one year high of $60.71. 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 company's 50 day moving average is $41.88 and its 200 day moving average is $46.50.
Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $178.46 million for the quarter, compared to the consensus estimate of $176.90 million. On average, research analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.
About Vertex
(
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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