Vertex, Inc. (NASDAQ:VERX) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its holdings in Vertex, Inc. (NASDAQ:VERX) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 558,887 shares of the company’s stock after buying an additional 28,083 shares during the period. Northern Trust Corp’s holdings in Vertex were worth $29,817,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Vertex by 5.4% in the third quarter. Barclays PLC now owns 582,273 shares of the company’s stock worth $22,424,000 after acquiring an additional 29,700 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex during the 4th quarter valued at $50,000. Ellsworth Advisors LLC increased its holdings in shares of 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. Sheets Smith Wealth Management raised its position in shares of Vertex by 2.2% in the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock worth $806,000 after buying an additional 324 shares during the period. Finally, Blue Trust Inc. grew its position in Vertex by 11.4% during the fourth quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock valued at $134,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BNP Paribas started coverage on Vertex in a research note on Tuesday, April 22nd. They issued an “outperform” rating and a $54.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Vertex in a research note on Thursday, March 20th. Jefferies Financial Group cut their target price on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus cut shares of Vertex from a “buy” rating to a “hold” rating and decreased their price target for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Finally, The Goldman Sachs Group cut their price objective on Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and an average price target of $50.73.

Vertex Trading Up 2.2 %

Shares of VERX 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. Vertex, Inc. has a one year low of $30.26 and a one year high of $60.71. The stock has a 50-day moving average price of $36.78 and a 200 day moving average price of $46.13. The company has a market capitalization of $6.06 billion, a P/E ratio of 212.94, a P/E/G ratio of 6.66 and a beta of 0.78.

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

Insider Transactions at Vertex

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 44.58% of the company’s stock.

Vertex Company 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.