Dimensional Fund Advisors LP Lowers Position in Vertex, Inc. (NASDAQ:VERX)

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

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Invesco Ltd. boosted its stake in Vertex by 342.5% in the fourth quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock valued at $80,754,000 after buying an additional 1,171,576 shares in the last quarter. FMR LLC boosted its stake in shares of Vertex by 25.4% in the 4th quarter. FMR LLC now owns 2,868,438 shares of the company's stock valued at $153,031,000 after purchasing an additional 580,664 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Vertex by 1,100.4% in the 4th quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock valued at $30,530,000 after purchasing an additional 524,572 shares in the last quarter. abrdn plc grew its holdings in shares of Vertex by 74.9% during the 4th quarter. abrdn plc now owns 1,029,177 shares of the company's stock valued at $55,035,000 after purchasing an additional 440,832 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Vertex by 26.0% during the 4th 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. Institutional investors own 70.32% of the company's stock.

Vertex Trading Down 3.3 %

VERX traded down $1.26 during trading on Wednesday, hitting $37.44. The company's stock had a trading volume of 2,157,107 shares, compared to its average volume of 1,017,851. The firm has a market capitalization of $5.92 billion, a P/E ratio of 208.00, a PEG ratio of 6.66 and a beta of 0.78. Vertex, Inc. has a twelve month low of $28.04 and a twelve month high of $60.71. The stock's fifty day moving average price is $36.45 and its 200-day moving average price is $46.23. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Robert W. Baird lowered their target price on Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, February 28th. DA Davidson lowered their price objective on Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus downgraded shares of Vertex from a "buy" rating to a "hold" rating and cut their target price for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. BNP Paribas assumed coverage on shares of Vertex in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 price target for the company. Finally, Morgan Stanley dropped their price target on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertex currently has an average rating of "Moderate Buy" and a consensus target price of $50.73.

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 shares were 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 approximately $4,749.36. This represents a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 44.58% of the stock is 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.