Victory Capital Management Inc. Purchases 9,088 Shares of Vertex, Inc. (NASDAQ:VERX)

Victory Capital Management Inc. raised its position in shares of Vertex, Inc. (NASDAQ:VERX) by 26.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,474 shares of the company’s stock after acquiring an additional 9,088 shares during the period. Victory Capital Management Inc.’s holdings in Vertex were worth $2,319,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Vertex in the fourth quarter valued at about $38,000. Plato Investment Management Ltd bought a new stake in shares of Vertex in the fourth quarter valued at about $41,000. Armstrong Advisory Group Inc. bought a new stake in shares of Vertex in the fourth quarter valued at about $50,000. Advisors Asset Management Inc. lifted its stake in shares of Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares during the period. Finally, KBC Group NV lifted its stake in shares of Vertex by 46.1% in the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after buying an additional 662 shares during the period. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

NASDAQ VERX opened at $34.54 on Tuesday. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 191.89, a PEG ratio of 6.66 and a beta of 0.87. The company has a 50 day moving average of $47.68 and a 200-day moving average of $46.57. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 1-year low of $27.22 and a 1-year high of $60.71.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $178.46 million for the quarter, compared to analyst estimates of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. On average, equities analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

VERX has been the subject of a number of analyst reports. Stifel Nicolaus cut shares of Vertex from a “buy” rating to a “hold” rating and cut their price target for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Raymond James restated a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. DA Davidson cut their price target on shares of Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Robert W. Baird cut their price target on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Finally, Citigroup raised their price target on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Insider Activity at Vertex

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the firm’s 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 44.58% 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.