Ameriprise Financial Inc. Has $61.34 Million Holdings in Vertex, Inc. (NASDAQ:VERX)

Ameriprise Financial Inc. increased its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 17.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,149,840 shares of the company's stock after purchasing an additional 172,219 shares during the period. Ameriprise Financial Inc. owned approximately 0.74% of Vertex worth $61,344,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VERX. Fairman Group LLC bought a new stake in shares of Vertex in the 4th quarter valued at approximately $327,000. Empowered Funds LLC acquired a new position in Vertex during the 4th quarter worth $3,363,000. Triasima Portfolio Management inc. acquired a new position in Vertex during the 4th quarter worth $3,135,000. Principal Financial Group Inc. lifted its holdings in Vertex by 1,100.4% during the 4th quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock worth $30,530,000 after buying an additional 524,572 shares in the last quarter. Finally, Callan Family Office LLC bought a new position in shares of Vertex in the 4th quarter worth $534,000. Institutional investors and hedge funds own 70.32% of the company's stock.

Vertex Stock Performance

Vertex stock traded down $0.92 during midday trading on Monday, reaching $37.41. 1,304,742 shares of the company's stock were exchanged, compared to its average volume of 1,017,911. Vertex, Inc. has a 52 week low of $30.26 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. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 207.83, a P/E/G ratio of 6.66 and a beta of 0.78. The stock's 50-day simple moving average is $36.87 and its 200 day simple moving average is $46.13.

Vertex (NASDAQ:VERX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $177.06 million for the quarter, compared to the consensus estimate of $176.99 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. On average, analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Activity at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company's stock in a transaction on 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 completion of the sale, the general counsel now directly owns 132 shares in the company, valued at $4,749.36. This represents a 99.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 44.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VERX. Needham & Company LLC restated a "buy" rating and issued a $60.00 price target on shares of Vertex in a research report on Thursday, March 20th. BNP Paribas began coverage on Vertex in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 price target on the stock. The Goldman Sachs Group reduced their price target on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Robert W. Baird reduced their target price on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Finally, Morgan Stanley dropped their price target on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.73.

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.