Rhumbline Advisers Buys 4,477 Shares of Vertex, Inc. $VERX

Rhumbline Advisers increased its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 5.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 84,152 shares of the company’s stock after purchasing an additional 4,477 shares during the quarter. Rhumbline Advisers owned 0.05% of Vertex worth $2,946,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Captrust Financial Advisors bought a new position in Vertex in the 4th quarter valued at $250,000. Cetera Investment Advisers grew its position in Vertex by 8.3% in the 4th quarter. Cetera Investment Advisers now owns 7,645 shares of the company’s stock valued at $408,000 after acquiring an additional 588 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Vertex by 28.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company’s stock valued at $2,887,000 after acquiring an additional 11,966 shares during the last quarter. Lazard Asset Management LLC grew its position in Vertex by 7,675.0% in the 4th quarter. Lazard Asset Management LLC now owns 2,488 shares of the company’s stock valued at $132,000 after acquiring an additional 2,456 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Vertex by 6.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,474 shares of the company’s stock valued at $4,186,000 after acquiring an additional 4,756 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VERX shares. Needham & Company LLC lowered their target price on Vertex from $60.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. BMO Capital Markets restated a “market perform” rating on shares of Vertex in a report on Thursday, August 7th. Citigroup upgraded Vertex from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Piper Sandler began coverage on Vertex in a report on Monday, June 16th. They issued an “overweight” rating and a $48.00 price objective for the company. Finally, DA Davidson downgraded Vertex from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.69.

Vertex Trading Down 0.4%

Shares of NASDAQ:VERX opened at $23.96 on Tuesday. Vertex, Inc. has a 52-week low of $23.13 and a 52-week high of $60.71. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -72.60, a PEG ratio of 4.99 and a beta of 0.68. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average price of $29.22 and a 200-day moving average price of $34.28.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The company had revenue of $184.56 million during the quarter, compared to analysts’ expectations of $184.60 million. During the same period last year, the business earned $0.15 earnings per share. Vertex’s quarterly revenue was up 14.6% on a year-over-year basis. Equities analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Buying and Selling

In other Vertex news, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $35.24, for a total value of $508,337.00. Following the sale, the insider directly owned 173,074 shares of the company’s stock, valued at approximately $6,099,127.76. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 181,641 shares of company stock valued at $6,508,780 over the last quarter. 43.25% of the stock is currently owned by company insiders.

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.