Tidal Investments LLC Invests $8.38 Million in Vertex, Inc. (NASDAQ:VERX)

Tidal Investments LLC bought a new position in shares of Vertex, Inc. (NASDAQ:VERX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 156,994 shares of the company’s stock, valued at approximately $8,376,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State of Wyoming lifted its position in shares of Vertex by 52.2% during the fourth quarter. State of Wyoming now owns 4,020 shares of the company’s stock worth $214,000 after purchasing an additional 1,379 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Vertex during the fourth quarter worth $248,000. Redwood Investments LLC bought a new stake in shares of Vertex during the fourth quarter worth $1,784,000. ProShare Advisors LLC lifted its position in shares of Vertex by 48.9% during the fourth quarter. ProShare Advisors LLC now owns 15,271 shares of the company’s stock worth $815,000 after purchasing an additional 5,016 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Vertex by 5.0% during the fourth quarter. Nuveen Asset Management LLC now owns 153,985 shares of the company’s stock worth $8,215,000 after purchasing an additional 7,364 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was 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 in the company, valued at approximately $4,749.36. The trade was a 99.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ryan J. Leib sold 5,755 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total value of $218,690.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,398 shares of company stock worth $5,898,979. 44.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BNP Paribas assumed coverage on Vertex in a report on Tuesday, April 22nd. They issued an “outperform” rating and a $54.00 price objective for the company. DA Davidson decreased their price objective on Vertex from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, April 14th. Robert W. Baird decreased their price objective on Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Finally, Stifel Nicolaus downgraded Vertex from a “buy” rating to a “hold” rating and decreased their price objective for the company from $58.00 to $31.00 in a report 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.73.

Vertex Stock Performance

Shares of Vertex stock opened at $38.51 on Tuesday. The company has a market capitalization of $6.09 billion, a PE ratio of 213.94, a P/E/G ratio of 6.66 and a beta of 0.78. 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 company has a 50-day simple moving average of $37.41 and a two-hundred day simple moving average of $45.98. Vertex, Inc. has a one year low of $30.26 and a one year high of $60.71.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, May 7th. The company reported $0.15 EPS 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 firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal 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.