156,994 Shares in Vertex, Inc. (NASDAQ:VERX) Acquired by Tidal Investments LLC

Tidal Investments LLC bought a new position in Vertex, Inc. (NASDAQ:VERX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 156,994 shares of the company's stock, valued at approximately $8,376,000. Tidal Investments LLC owned approximately 0.10% of Vertex at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairman Group LLC purchased a new stake in Vertex in the 4th quarter worth approximately $327,000. Empowered Funds LLC purchased a new stake in Vertex in the 4th quarter worth approximately $3,363,000. Triasima Portfolio Management inc. purchased a new stake in Vertex in the 4th quarter worth approximately $3,135,000. Principal Financial Group Inc. increased its holdings in Vertex by 1,100.4% in the 4th quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock worth $30,530,000 after acquiring an additional 524,572 shares in the last quarter. Finally, Callan Family Office LLC purchased a new stake in Vertex in the 4th quarter worth approximately $534,000. 70.32% of the stock is owned by hedge funds and other institutional investors.

Vertex Trading Up 0.9%

VERX stock opened at $38.51 on Tuesday. The firm has a fifty day moving average price of $37.41 and a 200 day moving average price of $45.98. Vertex, Inc. has a fifty-two week low of $30.26 and a fifty-two 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 $6.09 billion, a PE ratio of 213.94, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78.

Vertex (NASDAQ:VERX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share for the quarter, beating 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 firm had revenue of $177.06 million during the quarter, compared to analyst estimates of $176.99 million. During the same period last year, the firm posted $0.15 earnings per share. Vertex's revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on VERX. BNP Paribas began coverage on shares of Vertex in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 target price for the company. Jefferies Financial Group cut their price objective on shares of Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Morgan Stanley cut their price objective on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird cut their price objective 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. 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.73.

Insider Buying and Selling

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex 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. The trade was a 99.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Destefano sold 109,415 shares of Vertex stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $37.70, for a total transaction of $4,124,945.50. Following the transaction, the chief executive officer now directly owns 1,066,587 shares of the company's stock, valued at $40,210,329.90. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,398 shares of company stock worth $5,898,979 over the last three months. 44.58% of the stock is owned by 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.

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