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D. E. Shaw & Co. Inc. increased its holdings in Vertex, Inc. (NASDAQ:VERX – Free Report) by 28.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,115 shares of the company’s stock after purchasing an additional 11,966 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Vertex were worth $2,887,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Barclays PLC boosted its holdings in Vertex by 5.4% during the third quarter. Barclays PLC now owns 582,273 shares of the company’s stock valued at $22,424,000 after acquiring an additional 29,700 shares during the period. Ellsworth Advisors LLC boosted its holdings in Vertex by 3.5% during the fourth quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock valued at $922,000 after acquiring an additional 584 shares during the period. Sheets Smith Wealth Management boosted its holdings in Vertex by 2.2% during the fourth quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock valued at $806,000 after acquiring an additional 324 shares during the period. Blue Trust Inc. boosted its holdings 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. Finally, KBC Group NV boosted its holdings in Vertex by 27.1% during the fourth quarter. KBC Group NV now owns 2,668 shares of the company’s stock valued at $142,000 after acquiring an additional 569 shares during the period. 70.32% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
VERX has been the subject of a number of recent analyst reports. Robert W. Baird decreased their price target on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Morgan Stanley decreased their price target on shares of Vertex from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group decreased their price target on shares of Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a report on Friday, February 28th. BNP Paribas assumed coverage on shares of Vertex in a research report on Tuesday, April 22nd. They set an “outperform” rating and a $54.00 price objective for the company. Finally, The Goldman Sachs Group cut their price objective on shares of Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.73.
Get Our Latest Research Report on Vertex
Vertex Stock Up 0.9%
Shares of VERX opened at $38.51 on Tuesday. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 213.94, a P/E/G ratio of 6.66 and a beta of 0.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 12 month low of $30.26 and a 12 month high of $60.71. The company has a 50-day moving average price of $37.41 and a two-hundred day moving average price of $45.98.
Vertex (NASDAQ:VERX – Get Free Report) last announced its quarterly 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 firm had revenue of $177.06 million during the quarter, compared to analysts’ expectations of $176.99 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company’s revenue for the quarter 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. Equities analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CAO Ryan J. Leib sold 5,755 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.00, for a total transaction of $218,690.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s stock in a transaction that occurred on 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 directly owns 132 shares of the company’s stock, valued at approximately $4,749.36. The trade was a 99.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,398 shares of company stock worth $5,898,979 over the last quarter. Company insiders own 44.58% of the company’s stock.
Vertex 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.
See Also
Want to see what other hedge funds are holding VERX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex, Inc. (NASDAQ:VERX – Free Report).
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