Assetmark Inc. Invests $79,000 in Vertex, Inc. (NASDAQ:VERX)

Assetmark Inc. acquired a new position in shares of Vertex, Inc. (NASDAQ:VERX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,485 shares of the company’s stock, valued at approximately $79,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Vertex during the fourth quarter worth $38,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex during the fourth quarter worth $41,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex during the fourth quarter worth $50,000. Advisors Asset Management Inc. raised its holdings in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after acquiring an additional 540 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Vertex by 46.1% during the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after acquiring an additional 662 shares in the last quarter. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Trading Up 2.2 %

Shares of NASDAQ:VERX opened at $33.59 on Friday. The company has a market cap of $5.24 billion, a P/E ratio of 186.61, a P/E/G ratio of 6.66 and a beta of 0.87. The stock’s 50-day moving average is $48.38 and its 200-day moving average is $46.50. Vertex, Inc. has a 52-week low of $27.22 and a 52-week high of $60.71. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Equities research analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on VERX. DA Davidson cut their price objective on Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a report on Friday, February 28th. Citigroup raised their target price on Vertex from $46.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Jefferies Financial Group cut their target price on Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus lowered Vertex from a “buy” rating to a “hold” rating and cut their target price for the company from $58.00 to $31.00 in a report on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and set a $61.00 target price on shares of Vertex in a report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Insider Buying and Selling

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the sale, the insider now directly owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 44.58% of the stock is 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.