Bessemer Group Inc. Sells 113,900 Shares of Vertex, Inc. $VERX

Bessemer Group Inc. reduced its stake in Vertex, Inc. (NASDAQ:VERX) by 16.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 580,802 shares of the company’s stock after selling 113,900 shares during the period. Bessemer Group Inc. owned 0.37% of Vertex worth $20,522,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Fifth Third Bancorp raised its holdings in shares of Vertex by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after purchasing an additional 347 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Vertex by 44.4% in the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after purchasing an additional 512 shares in the last quarter. Strategic Advocates LLC raised its holdings in shares of Vertex by 9.6% in the 2nd quarter. Strategic Advocates LLC now owns 6,464 shares of the company’s stock valued at $228,000 after purchasing an additional 565 shares in the last quarter. Finally, State of Wyoming raised its holdings in shares of Vertex by 16.1% in the 1st quarter. State of Wyoming now owns 4,669 shares of the company’s stock valued at $163,000 after purchasing an additional 649 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Analyst Upgrades and Downgrades

VERX has been the subject of several recent research reports. JMP Securities set a $50.00 price target on shares of Vertex and gave the company a “market outperform” rating in a report on Thursday, August 7th. Jefferies Financial Group restated a “buy” rating and issued a $35.00 price target on shares of Vertex in a report on Tuesday, October 21st. Citigroup lowered their price target on shares of Vertex from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of Vertex in a report on Wednesday, October 8th. Finally, Stephens started coverage on shares of Vertex in a report on Friday, September 26th. They issued an “overweight” rating and a $30.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Vertex Stock Down 2.1%

NASDAQ:VERX opened at $25.11 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36. Vertex, Inc. has a twelve month low of $23.13 and a twelve month high of $60.71. The company has a market cap of $4.00 billion, a PE ratio of -76.09, a P/E/G ratio of 5.20 and a beta of 0.63. The company’s 50 day moving average is $25.04 and its two-hundred day moving average is $32.15.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $184.56 million during the quarter, compared to analysts’ expectations of $184.60 million. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS. Analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current year.

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.