Fmr LLC Has $153.03 Million Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Fmr LLC boosted its position in shares of Vertex, Inc. (NASDAQ:VERX) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,868,438 shares of the company’s stock after purchasing an additional 580,664 shares during the period. Fmr LLC’s holdings in Vertex were worth $153,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VERX. Federated Hermes Inc. increased its position in Vertex by 53.8% during the fourth quarter. Federated Hermes Inc. now owns 690,957 shares of the company’s stock worth $36,863,000 after buying an additional 241,586 shares during the last quarter. Wells Fargo & Company MN increased its position in Vertex by 61.8% during the fourth quarter. Wells Fargo & Company MN now owns 34,380 shares of the company’s stock worth $1,834,000 after acquiring an additional 13,135 shares during the period. Nicolet Advisory Services LLC raised its stake in Vertex by 12.8% during the 4th quarter. Nicolet Advisory Services LLC now owns 8,746 shares of the company’s stock valued at $456,000 after purchasing an additional 991 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Vertex by 26.0% in the 4th quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company’s stock valued at $113,587,000 after purchasing an additional 439,054 shares during the period. Finally, Scalar Gauge Management LLC acquired a new stake in Vertex in the 4th quarter worth $11,789,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Insider Buying and Selling

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the stock in a transaction 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 sale, the insider now directly owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the transaction, the general counsel now directly owns 132 shares of the company’s stock, valued at $4,749.36. This trade represents a 99.70 % decrease in their position. The disclosure for this sale can be found here. 44.58% of the stock is owned by insiders.

Vertex Stock Performance

Vertex stock opened at $38.48 on Monday. The company has a market cap of $6.09 billion, a PE ratio of 213.78, a PEG ratio of 6.66 and a beta of 0.80. 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. The company’s 50-day moving average is $39.42 and its two-hundred day moving average is $46.43.

Vertex (NASDAQ:VERX) last announced 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). 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 analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

VERX has been the topic of several analyst reports. Jefferies Financial Group lowered their price target on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Citigroup upped their price target on Vertex from $46.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Morgan Stanley upped their target price on shares of Vertex from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, 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 report on Friday, February 28th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.82.

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.