Vertex, Inc. (NASDAQ:VERX) Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC raised its position in Vertex, Inc. (NASDAQ:VERX - Free Report) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,527,604 shares of the company's stock after acquiring an additional 53,829 shares during the quarter. Neuberger Berman Group LLC owned approximately 2.26% of Vertex worth $188,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Vertex by 18.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,530 shares of the company's stock worth $5,373,000 after purchasing an additional 22,228 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Vertex in the 3rd quarter valued at about $531,000. State Street Corp raised its position in shares of Vertex by 36.4% during the 3rd quarter. State Street Corp now owns 1,361,901 shares of the company's stock worth $52,447,000 after acquiring an additional 363,595 shares in the last quarter. Barclays PLC lifted its stake in Vertex by 5.4% during the third quarter. Barclays PLC now owns 582,273 shares of the company's stock worth $22,424,000 after purchasing an additional 29,700 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 purchasing an additional 37,592 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company's stock.

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Insider Activity

In other news, 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 transaction of $1,555,343.44. Following the sale, the general counsel now owns 132 shares of the company's stock, valued at $4,749.36. The trade was a 99.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company'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 value of $3,041,052.64. Following the completion of the sale, the insider now owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 44.58% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on VERX. The Goldman Sachs Group lowered their target price on shares of Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Stifel Nicolaus lowered Vertex from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $58.00 to $31.00 in a report on Friday, February 28th. DA Davidson reduced their target price on Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday. Raymond James reissued a "market perform" rating on shares of Vertex in a research report on Friday, January 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price target on shares of Vertex in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.36.

Vertex Stock Performance

NASDAQ:VERX traded up $0.57 during midday trading on Tuesday, reaching $39.22. The stock had a trading volume of 198,856 shares, compared to its average volume of 1,019,840. The stock has a market cap of $6.20 billion, a P/E ratio of 217.89, a P/E/G ratio of 6.66 and a beta of 0.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 12-month low of $27.22 and a 12-month high of $60.71. The firm has a fifty day simple moving average of $39.03 and a two-hundred day simple moving average of $46.44.

Vertex (NASDAQ:VERX - Get Free Report) last issued 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 firm had revenue of $178.46 million during 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%. On average, equities analysts expect that Vertex, Inc. will post 0.38 EPS 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.