Wells Fargo & Company MN Increases Stock Position in Vertex, Inc. (NASDAQ:VERX)

Wells Fargo & Company MN increased its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 61.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,380 shares of the company's stock after buying an additional 13,135 shares during the quarter. Wells Fargo & Company MN's holdings in Vertex were worth $1,834,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of VERX. Fairman Group LLC acquired a new stake in shares of Vertex in the fourth quarter worth $327,000. Empowered Funds LLC purchased a new stake in Vertex in the fourth quarter valued at $3,363,000. Triasima Portfolio Management inc. acquired a new stake in Vertex during the 4th quarter worth about $3,135,000. Principal Financial Group Inc. raised 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 last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Vertex in the 4th quarter valued at about $534,000. 70.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the stock in a transaction dated 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 sale, the general counsel now owns 132 shares in the company, valued at approximately $4,749.36. This represents a 99.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 44.58% of the company's stock.

Vertex Price Performance

VERX stock traded up $0.84 during trading on Tuesday, hitting $40.19. The stock had a trading volume of 777,375 shares, compared to its average volume of 1,002,673. The company's 50-day moving average price is $36.77 and its two-hundred day moving average price is $46.36. Vertex, Inc. has a twelve month low of $28.04 and a twelve month high of $60.71. The stock has a market capitalization of $6.36 billion, a P/E ratio of 223.28, a PEG ratio of 6.66 and a beta of 0.80. 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 (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $178.46 million for the quarter, compared to analysts' expectations of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. As a group, research analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on VERX shares. Needham & Company LLC reiterated a "buy" rating and set a $60.00 price target on shares of Vertex in a research report on Thursday, March 20th. Morgan Stanley cut their target price on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird dropped their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Raymond James reaffirmed a "market perform" rating on shares of Vertex in a report on Friday, January 3rd. Finally, The Goldman Sachs Group lowered their target price on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.73.

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.