Jump Financial LLC Acquires 17,405 Shares of Vertex, Inc. (NASDAQ:VERX)

Jump Financial LLC raised its holdings in Vertex, Inc. (NASDAQ:VERX) by 276.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,700 shares of the company’s stock after purchasing an additional 17,405 shares during the quarter. Jump Financial LLC’s holdings in Vertex were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in VERX. Barclays PLC lifted its stake in Vertex by 5.4% in the third quarter. Barclays PLC now owns 582,273 shares of the company’s stock valued at $22,424,000 after purchasing an additional 29,700 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Vertex by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock valued at $49,121,000 after buying an additional 37,592 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of 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 period. Lord Abbett & CO. LLC increased its holdings in Vertex by 29.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 933,034 shares of the company’s stock worth $35,932,000 after acquiring an additional 211,896 shares during the last quarter. Finally, West Oak Capital LLC raised its stake in Vertex by 270,150.0% in the 4th quarter. West Oak Capital LLC now owns 5,405 shares of the company’s stock valued at $288,000 after acquiring an additional 5,403 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vertex news, 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 value of $3,041,052.64. Following the completion of the sale, the insider now directly owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. The trade was a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company’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 sale, the general counsel now owns 132 shares of the company’s stock, valued at approximately $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 44.58% of the company’s stock.

Vertex Stock Performance

Shares of VERX opened at $39.25 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average price of $37.71 and a 200-day moving average price of $46.42. The company has a market cap of $6.21 billion, a PE ratio of 218.06, 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.

Vertex (NASDAQ:VERX) last announced 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). The company had revenue of $178.46 million for the quarter, compared to the consensus estimate of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. As a group, equities analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reduced 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. Morgan Stanley reduced their price objective on shares of Vertex from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Stifel Nicolaus downgraded Vertex from a “buy” rating to a “hold” rating and dropped their target price for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Jefferies Financial Group reduced their price target on Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Raymond James reissued a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.91.

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.