Sei Investments Co. Purchases 7,430 Shares of Vertex, Inc. (NASDAQ:VERX)

Sei Investments Co. raised its position in Vertex, Inc. (NASDAQ:VERX) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,284 shares of the company’s stock after buying an additional 7,430 shares during the period. Sei Investments Co. owned 0.06% of Vertex worth $4,603,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Vertex by 11.4% during the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock worth $134,000 after purchasing an additional 257 shares during the last quarter. Sheets Smith Wealth Management grew 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 purchasing an additional 324 shares during the period. KBC Group NV increased its position in Vertex by 27.1% in the fourth quarter. KBC Group NV now owns 2,668 shares of the company’s stock worth $142,000 after buying an additional 569 shares during the last quarter. Ellsworth Advisors LLC raised its stake in shares of Vertex by 3.5% in the fourth quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock valued at $922,000 after buying an additional 584 shares during the period. Finally, Westover Capital Advisors LLC lifted its position in shares of Vertex by 1.2% during the 4th quarter. Westover Capital Advisors LLC now owns 55,427 shares of the company’s stock valued at $2,957,000 after buying an additional 632 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Insider Transactions at Vertex

In other 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 stock was sold at an average price of $56.48, for a total value of $3,041,052.64. Following the transaction, the insider now owns 1,229,257 shares in the company, 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 legal filing with the SEC, which is available through this link. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business’s stock in a transaction dated 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 transaction, the general counsel now owns 132 shares in the company, valued at $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 44.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VERX shares. Jefferies Financial Group decreased their price target on Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on shares of Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. JMP Securities reissued a “market outperform” rating and issued a $61.00 price target on shares of Vertex in a report on Monday, December 9th. Robert W. Baird decreased their price target on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, DA Davidson dropped their price objective on Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Five 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.82.

Vertex Trading Up 2.6 %

NASDAQ VERX opened at $37.02 on Thursday. Vertex, Inc. has a one year low of $27.22 and a one year 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. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 205.67, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87. The company’s 50-day simple moving average is $43.19 and its two-hundred day simple moving average is $46.45.

Vertex (NASDAQ:VERX) last announced its earnings results 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 during the quarter, compared to analyst estimates of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

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.