Dimensional Fund Advisors LP Has $43.98 Million Holdings in Vertex, Inc. (NASDAQ:VERX)

Dimensional Fund Advisors LP cut its stake in Vertex, Inc. (NASDAQ:VERX - Free Report) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 824,299 shares of the company's stock after selling 86,853 shares during the period. Dimensional Fund Advisors LP owned approximately 0.53% of Vertex worth $43,976,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. grew its position in Vertex by 342.5% during the fourth quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock valued at $80,754,000 after acquiring an additional 1,171,576 shares during the period. FMR LLC increased its position in Vertex by 25.4% during the 4th quarter. FMR LLC now owns 2,868,438 shares of the company's stock worth $153,031,000 after purchasing an additional 580,664 shares in the last quarter. Principal Financial Group Inc. boosted its position 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 purchasing an additional 524,572 shares during the period. abrdn plc grew its stake in shares of Vertex by 74.9% in the fourth quarter. abrdn plc now owns 1,029,177 shares of the company's stock valued at $55,035,000 after buying an additional 440,832 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Vertex by 26.0% during the fourth quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company's stock worth $113,587,000 after purchasing an additional 439,054 shares in the last quarter. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction, the general counsel now owns 132 shares of the company's stock, valued at approximately $4,749.36. This represents a 99.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.58% of the stock is currently owned by corporate insiders.

Vertex Stock Up 1.4 %

Shares of VERX traded up $0.52 during trading hours on Friday, hitting $38.04. 176,154 shares of the company were exchanged, compared to its average volume of 1,285,795. The firm's 50 day moving average is $36.66 and its 200-day moving average is $46.13. 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, Inc. has a 52 week low of $30.26 and a 52 week high of $60.71. The company has a market cap of $6.02 billion, a PE ratio of 211.33, a PEG ratio of 6.66 and a beta of 0.78.

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

Wall Street Analyst Weigh In

VERX has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. BNP Paribas started coverage on shares of Vertex in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Robert W. Baird decreased their target price on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Finally, Stifel Nicolaus cut shares of Vertex from a "buy" rating to a "hold" rating and decreased their price target for the stock from $58.00 to $31.00 in a report on Friday, February 28th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Vertex currently has an average rating of "Moderate Buy" and an average price target of $50.73.

About Vertex

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.