9,164 Shares in Vertex, Inc. (NASDAQ:VERX) Purchased by FORA Capital LLC

FORA Capital LLC acquired a new stake in shares of Vertex, Inc. (NASDAQ:VERX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 9,164 shares of the company’s stock, valued at approximately $489,000.

Several other institutional investors and hedge funds also recently made changes to their positions in VERX. Blue Trust Inc. grew its position 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 in the last quarter. Sheets Smith Wealth Management raised its stake in Vertex by 2.2% in the fourth quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock valued at $806,000 after purchasing an additional 324 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Vertex by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,678 shares of the company’s stock worth $303,000 after acquiring an additional 361 shares during the last quarter. KBC Group NV boosted its holdings in shares of Vertex by 27.1% in the 4th quarter. KBC Group NV now owns 2,668 shares of the company’s stock worth $142,000 after purchasing an additional 569 shares in the last quarter. Finally, Ellsworth Advisors LLC grew its position in Vertex by 3.5% during the fourth quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock valued at $922,000 after acquiring an additional 584 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Up 2.2 %

Vertex stock opened at $38.33 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $6.06 billion, a PE ratio of 212.94, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78. The stock has a fifty day moving average of $36.78 and a 200 day moving average of $46.10. Vertex, Inc. has a one year low of $30.26 and a one year high of $60.71.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $177.06 million during the quarter, compared to analyst estimates of $176.99 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Vertex’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Activity

In related news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the transaction, the general counsel now directly owns 132 shares of the company’s stock, valued at approximately $4,749.36. The trade was a 99.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 44.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. DA Davidson reduced their price target on shares of Vertex from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Jefferies Financial Group decreased their price objective on Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a report on Friday, February 28th. Morgan Stanley lowered 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. Finally, Stifel Nicolaus cut shares of Vertex from a “buy” rating to a “hold” rating and dropped their price target for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Four investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.73.

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.