Driehaus Capital Management LLC Has $56.75 Million Position in Vertex, Inc. (NASDAQ:VERX)

Driehaus Capital Management LLC lifted its position in Vertex, Inc. (NASDAQ:VERX - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,063,711 shares of the company's stock after acquiring an additional 51,730 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.68% of Vertex worth $56,749,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in Vertex in the 4th quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Vertex in the 4th quarter worth approximately $40,000. Plato Investment Management Ltd acquired a new position in shares of Vertex during the 4th quarter worth $41,000. Armstrong Advisory Group Inc. acquired a new position in shares of Vertex during the 4th quarter worth $50,000. Finally, Assetmark Inc. acquired a new position in shares of Vertex during the 4th quarter worth $79,000. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Price Performance

Shares of NASDAQ:VERX traded down $0.92 during midday trading on Monday, reaching $37.41. 1,250,693 shares of the company's stock were exchanged, compared to its average volume of 1,017,910. The company's 50 day simple moving average is $36.78 and its two-hundred day simple moving average is $46.16. The firm has a market capitalization of $5.92 billion, a PE ratio of 207.83, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78. Vertex, Inc. has a 12 month low of $30.26 and a 12 month 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.

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

Insider Transactions at Vertex

In related news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction that occurred 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 owns 132 shares in the company, valued at approximately $4,749.36. The trade was a 99.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 44.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VERX shares. Morgan Stanley dropped their price target on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. BNP Paribas started coverage on shares of Vertex in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target on the stock. Robert W. Baird dropped their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Finally, Stifel Nicolaus lowered shares of Vertex from a "buy" rating to a "hold" rating and dropped their price target for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently 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.