New York State Common Retirement Fund Sells 53,083 Shares of Vertex, Inc. (NASDAQ:VERX)

New York State Common Retirement Fund cut its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 10.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,434 shares of the company’s stock after selling 53,083 shares during the quarter. New York State Common Retirement Fund’s holdings in Vertex were worth $24,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Vertex by 2.5% during the 3rd quarter. FMR LLC now owns 2,287,774 shares of the company’s stock valued at $88,102,000 after purchasing an additional 54,985 shares during the last quarter. Franklin Resources Inc. grew its holdings in Vertex by 17.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock worth $69,444,000 after acquiring an additional 253,263 shares during the last quarter. Geneva Capital Management LLC grew its holdings in Vertex by 40.1% during the 3rd quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock worth $55,863,000 after acquiring an additional 414,945 shares during the last quarter. State Street Corp grew its holdings in 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 during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Vertex by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock worth $49,121,000 after acquiring an additional 37,592 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VERX shares. JMP Securities reissued a “market outperform” rating and set a $61.00 target price on shares of Vertex in a report on Monday, December 9th. Stifel Nicolaus boosted their target price on shares of Vertex from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup boosted their target price on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Raymond James reissued a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Vertex Stock Down 2.7 %

Vertex stock opened at $44.21 on Friday. 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 $24.47 and a 12-month high of $60.71. The firm’s fifty day moving average is $53.52 and its 200 day moving average is $46.60. The company has a market capitalization of $6.89 billion, a PE ratio of 245.61, a PEG ratio of 6.76 and a beta of 0.78.

Insider Activity at Vertex

In other Vertex news, insider Jeffrey Westphal sold 575,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $53.01, for a total transaction of $30,480,750.00. Following the completion of the sale, the insider now owns 7,895 shares in the company, valued at approximately $418,513.95. The trade was a 98.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following 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. Insiders have sold 887,084 shares of company stock worth $47,736,965 in the last quarter. Company insiders own 44.58% of the company’s stock.

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.