Vertex, Inc. (NASDAQ:VERX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 25.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,762 shares of the company’s stock after purchasing an additional 45,494 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of Vertex worth $7,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Versant Capital Management Inc acquired a new position in shares of Vertex in the 1st quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Vertex in the 4th quarter valued at $40,000. Lazard Asset Management LLC boosted its stake in Vertex by 7,675.0% during the 4th quarter. Lazard Asset Management LLC now owns 2,488 shares of the company’s stock worth $132,000 after purchasing an additional 2,456 shares during the period. GAMMA Investing LLC boosted its stake in Vertex by 1,719.4% during the 1st quarter. GAMMA Investing LLC now owns 5,076 shares of the company’s stock worth $178,000 after purchasing an additional 4,797 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Vertex by 75.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,734 shares of the company’s stock worth $199,000 after purchasing an additional 1,604 shares during the period. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Insider Activity at Vertex

In other news, CAO Ryan J. Leib sold 5,755 shares of Vertex 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Item Second Irr. Trust Fbo Ann sold 157,874 shares of the business’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $35.93, for a total value of $5,672,412.82. Following the completion of the transaction, the insider directly owned 196,841 shares of the company’s stock, valued at approximately $7,072,497.13. This trade represents a 44.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,520,170 shares of company stock valued at $134,479,744 in the last 90 days. 43.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on VERX shares. Citigroup boosted their target price on shares of Vertex from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Piper Sandler assumed coverage on shares of Vertex in a research note on Monday, June 16th. They issued an “overweight” rating and a $48.00 price target for the company. DA Davidson dropped their target price on shares of Vertex from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 14th. BNP Paribas assumed coverage on shares of Vertex in a report on Tuesday, April 22nd. They set an “outperform” rating and a $54.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of Vertex from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vertex presently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Vertex Stock Performance

NASDAQ VERX opened at $34.86 on Tuesday. Vertex, Inc. has a 1 year low of $30.26 and a 1 year high of $60.71. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of -120.20, a PEG ratio of 4.36 and a beta of 0.71. The company has a fifty day moving average price of $37.15 and a 200-day moving average price of $41.16.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $177.06 million during the quarter, compared to analyst estimates of $176.99 million. Vertex had a negative net margin of 6.45% and a positive return on equity of 28.14%. Vertex’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share. As a group, equities research analysts predict 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.