Bessemer Group Inc. Acquires 22,340 Shares of Vertex, Inc. (NASDAQ:VERX)

Bessemer Group Inc. grew its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 561,161 shares of the company's stock after purchasing an additional 22,340 shares during the period. Bessemer Group Inc. owned about 0.36% of Vertex worth $29,937,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of Vertex during the fourth quarter valued at $595,000. Invesco Ltd. boosted its holdings in shares of Vertex by 342.5% during the 4th quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock valued at $80,754,000 after acquiring an additional 1,171,576 shares during the last quarter. FMR LLC grew its stake in shares of Vertex by 25.4% in the fourth 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 period. Federated Hermes Inc. raised its holdings in shares of Vertex by 53.8% during the fourth quarter. Federated Hermes Inc. now owns 690,957 shares of the company's stock valued at $36,863,000 after purchasing an additional 241,586 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Vertex by 61.8% during the fourth quarter. Wells Fargo & Company MN now owns 34,380 shares of the company's stock valued at $1,834,000 after purchasing an additional 13,135 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.

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Insider Activity at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total transaction 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. The trade was a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a 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 firm's stock in a transaction dated 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 completion of the sale, the insider now owns 1,229,257 shares of the company's stock, valued at $69,428,435.36. This trade represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. 44.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. DA Davidson lowered their target price on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Monday. Jefferies Financial Group cut 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. Needham & Company LLC restated a "buy" rating and issued a $60.00 price objective on shares of Vertex in a research note on Thursday, March 20th. Finally, Morgan Stanley lifted their price target on shares of Vertex from $57.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertex has a consensus rating of "Moderate Buy" and a consensus target price of $49.36.

Vertex Price Performance

NASDAQ VERX traded up $0.41 on Tuesday, reaching $39.06. The company had a trading volume of 172,718 shares, compared to its average volume of 1,019,746. The stock has a market capitalization of $6.18 billion, a PE ratio of 217.00, a price-to-earnings-growth ratio of 6.66 and a beta of 0.80. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm's 50 day moving average price is $39.03 and its 200 day moving average price is $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 (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). Vertex had a return on equity of 24.92% and a net margin of 4.73%. The firm had revenue of $178.46 million during the quarter, compared to the consensus estimate of $176.90 million. As a group, equities analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current 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.