Bullseye Asset Management LLC Boosts Position in Vertex, Inc. (NASDAQ:VERX)

Bullseye Asset Management LLC grew its stake in Vertex, Inc. (NASDAQ:VERX - Free Report) by 13.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,360 shares of the company's stock after purchasing an additional 9,289 shares during the period. Vertex makes up about 1.9% of Bullseye Asset Management LLC's portfolio, making the stock its 22nd biggest position. Bullseye Asset Management LLC's holdings in Vertex were worth $4,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of VERX. Invesco Ltd. lifted its stake in shares of Vertex by 342.5% during the 4th quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock worth $80,754,000 after acquiring an additional 1,171,576 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Vertex during the 4th quarter worth approximately $61,825,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Vertex by 233.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 851,127 shares of the company's stock worth $45,409,000 after acquiring an additional 596,077 shares during the last quarter. FMR LLC lifted its stake in shares of Vertex by 25.4% during the 4th quarter. FMR LLC now owns 2,868,438 shares of the company's stock worth $153,031,000 after acquiring an additional 580,664 shares during the last quarter. Finally, Principal Financial Group Inc. lifted 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 worth $30,530,000 after acquiring an additional 524,572 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group decreased their price target on Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Raymond James restated a "market perform" rating on shares of Vertex in a report on Friday, January 3rd. Robert W. Baird reduced their price objective on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and set a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Finally, Stifel Nicolaus downgraded Vertex from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $58.00 to $31.00 in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.73.

Vertex Stock Down 1.0 %

Shares of NASDAQ:VERX traded down $0.39 during trading on Monday, reaching $39.35. The stock had a trading volume of 893,602 shares, compared to its average volume of 1,003,574. Vertex, Inc. has a one year low of $28.04 and a one year high of $60.71. The company has a market capitalization of $6.22 billion, a P/E ratio of 218.61, a PEG ratio of 6.66 and a beta of 0.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm's 50-day simple moving average is $36.77 and its 200 day simple moving average is $46.36.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share 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 during the quarter, compared to the consensus estimate of $176.90 million. As a group, research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the 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 completion of the transaction, the general counsel now directly owns 132 shares of the company's stock, valued at $4,749.36. This trade represents a 99.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 44.58% of the company's stock.

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.