By otakuyassine3@gmail.com 
Sei Investments Co. lifted its holdings in shares of Vertex, Inc. (NASDAQ:VERX – Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,284 shares of the company’s stock after buying an additional 7,430 shares during the period. Sei Investments Co.’s holdings in Vertex were worth $4,603,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Vertex by 11.4% in the fourth quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock valued at $134,000 after purchasing an additional 257 shares during the period. Sheets Smith Wealth Management increased its stake in Vertex by 2.2% in the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock valued at $806,000 after buying an additional 324 shares during the period. KBC Group NV increased its stake in Vertex by 27.1% in the 4th quarter. KBC Group NV now owns 2,668 shares of the company’s stock valued at $142,000 after buying an additional 569 shares during the period. Ellsworth Advisors LLC raised its position in Vertex by 3.5% during the 4th quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock worth $922,000 after buying an additional 584 shares during the last quarter. Finally, Westover Capital Advisors LLC lifted its stake in shares of Vertex by 1.2% in the 4th quarter. Westover Capital Advisors LLC now owns 55,427 shares of the company’s stock worth $2,957,000 after acquiring an additional 632 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. The Goldman Sachs Group decreased their price target on Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. DA Davidson cut their price objective on Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, February 28th. JMP Securities reissued a “market outperform” rating and issued a $61.00 target price on shares of Vertex in a report on Monday, December 9th. Finally, Robert W. Baird lowered their price target on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.82.
View Our Latest Stock Report on VERX
Insider Activity at Vertex
In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s stock in a transaction dated 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 sale, the general counsel now owns 132 shares in the company, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the 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 transaction, the insider now owns 1,229,257 shares in the company, valued at approximately $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 company insiders.
Vertex Stock Up 2.6 %
Shares of Vertex stock opened at $37.02 on Thursday. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. The business has a fifty day simple moving average of $43.19 and a 200 day simple moving average of $46.45. 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 stock has a market cap of $5.86 billion, a PE ratio of 205.67, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87.
Vertex (NASDAQ:VERX – Get Free Report) last announced its quarterly 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 business had revenue of $178.46 million during the quarter, compared to the consensus estimate of $176.90 million. Research analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.
About Vertex
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.
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