Vertex, Inc. (NASDAQ:VERX) Shares Acquired by Fmr LLC

FMR LLC grew its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 25.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,868,438 shares of the company's stock after purchasing an additional 580,664 shares during the period. FMR LLC owned approximately 1.84% of Vertex worth $153,031,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on VERX shares. Morgan Stanley decreased their price target on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday. Raymond James reaffirmed a "market perform" rating on shares of Vertex in a research report on Friday, January 3rd. DA Davidson lowered their target price on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday. Needham & Company LLC restated a "buy" rating and issued a $60.00 price target on shares of Vertex in a research note on Thursday, March 20th. Finally, Stifel Nicolaus cut Vertex from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Vertex has a consensus rating of "Moderate Buy" and an average target price of $48.91.

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Insider Buying and Selling at Vertex

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company's stock in a transaction 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 of the company's stock, valued at $69,428,435.36. This represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction 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 sale, the general counsel now 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. Company insiders own 44.58% of the company's stock.

Vertex Stock Performance

Shares of VERX traded up $0.21 during mid-day trading on Thursday, reaching $39.15. 414,890 shares of the company's stock were exchanged, compared to its average volume of 1,025,176. The stock has a market capitalization of $6.19 billion, a PE ratio of 217.99, a price-to-earnings-growth ratio of 6.66 and a beta of 0.80. The business's fifty day simple moving average is $38.31 and its 200-day simple moving average is $46.35. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. Vertex, Inc. has a 52-week low of $27.22 and a 52-week high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $178.46 million for the quarter, compared to analyst estimates of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. On average, equities research analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

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.