Vertex, Inc. (NASDAQ:VERX) Stock Holdings Lifted by KBC Group NV

KBC Group NV lifted its position in Vertex, Inc. (NASDAQ:VERX) by 27.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,668 shares of the company’s stock after acquiring an additional 569 shares during the quarter. KBC Group NV’s holdings in Vertex were worth $142,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VERX. Blue Trust Inc. boosted its position in shares of Vertex by 11.4% in the fourth quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock worth $134,000 after buying an additional 257 shares during the period. Sheets Smith Wealth Management lifted its stake in Vertex by 2.2% in the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock worth $806,000 after acquiring an additional 324 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in Vertex by 6.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock worth $320,000 after acquiring an additional 477 shares during the period. Advisors Asset Management Inc. grew its stake in Vertex by 126.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after acquiring an additional 540 shares in the last quarter. Finally, Ellsworth Advisors LLC increased its holdings in shares of Vertex by 3.5% in the 4th quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock valued at $922,000 after purchasing an additional 584 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Insider Transactions at Vertex

In other Vertex news, major shareholder Jeffrey Westphal sold 2,485,000 shares of Vertex stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $48.90, for a total value of $121,516,500.00. Following the transaction, the insider now directly owns 7,895 shares of the company’s stock, valued at $386,065.50. The trade was a 99.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the sale, the insider now directly owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. This represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,605,417 shares of company stock worth $180,941,809. Company insiders own 44.58% of the company’s stock.

Vertex Trading Down 0.4 %

Shares of VERX stock opened at $57.91 on Friday. The business’s 50 day moving average is $54.89 and its two-hundred day moving average is $45.79. 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 $24.17 and a 12 month high of $60.71. The company has a market cap of $9.03 billion, a PE ratio of 321.72, a price-to-earnings-growth ratio of 8.46 and a beta of 0.78.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. During the same quarter last year, the firm posted $0.06 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Equities analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup raised their price target on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $50.00 in a report on Monday, November 4th. Morgan Stanley increased their price objective on Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Needham & Company LLC boosted their target price on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, DA Davidson began coverage on Vertex in a research note on Tuesday, December 31st. They set a “buy” rating and a $62.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

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.