Vanguard Group Inc. Acquires 637,075 Shares of Vertex, Inc. (NASDAQ:VERX)

Vanguard Group Inc. grew its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 13.0% during the fourth quarter, Holdings Channel reports. The firm owned 5,555,808 shares of the company’s stock after purchasing an additional 637,075 shares during the period. Vanguard Group Inc.’s holdings in Vertex were worth $149,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bullseye Asset Management LLC increased its position in Vertex by 12.5% during the fourth quarter. Bullseye Asset Management LLC now owns 45,071 shares of the company’s stock worth $1,214,000 after buying an additional 5,000 shares during the last quarter. Granahan Investment Management LLC boosted its stake in shares of Vertex by 49.4% during the 4th quarter. Granahan Investment Management LLC now owns 663,606 shares of the company’s stock worth $17,878,000 after acquiring an additional 219,301 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Vertex by 175.0% during the 4th quarter. Quadrature Capital Ltd now owns 73,909 shares of the company’s stock valued at $1,992,000 after acquiring an additional 47,031 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Vertex in the 4th quarter valued at approximately $72,000. Finally, Axiom Investors LLC DE bought a new position in shares of Vertex in the 4th quarter valued at approximately $9,253,000. Institutional investors own 59.10% of the company’s stock.

Insider Transactions at Vertex

In other news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $32.93, for a total transaction of $49,395,000.00. Following the sale, the insider now directly owns 2,554,641 shares in the company, valued at $84,124,328.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 45.00% of the stock is owned by insiders.

Vertex Stock Performance

NASDAQ VERX opened at $35.46 on Friday. The company’s fifty day moving average is $33.11 and its two-hundred day moving average is $29.58. Vertex, Inc. has a 52-week low of $17.59 and a 52-week high of $36.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 886.50, a P/E/G ratio of 18.15 and a beta of 0.69.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). Vertex had a net margin of 1.29% and a return on equity of 18.67%. The company had revenue of $156.78 million during the quarter, compared to the consensus estimate of $155.50 million. Equities research analysts forecast that Vertex, Inc. will post 0.19 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on VERX. JMP Securities reiterated a “market outperform” rating and set a $42.00 price target on shares of Vertex in a report on Tuesday, April 23rd. Bank of America decreased their price objective on shares of Vertex from $40.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Citigroup boosted their target price on shares of Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Vertex in a research report on Thursday, June 13th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.11.

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.