Tidal Investments LLC Invests $8.38 Million in Vertex, Inc. (NASDAQ:VERX)

Tidal Investments LLC acquired a new stake in Vertex, Inc. (NASDAQ:VERX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 156,994 shares of the company's stock, valued at approximately $8,376,000. Tidal Investments LLC owned approximately 0.10% of Vertex as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Invesco Ltd. grew its holdings in Vertex by 342.5% in the 4th 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 during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Vertex in the 4th quarter valued at approximately $61,825,000. Price T Rowe Associates Inc. MD grew its holdings in Vertex by 233.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 851,127 shares of the company's stock valued at $45,409,000 after buying an additional 596,077 shares during the last quarter. FMR LLC grew its holdings in 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 buying an additional 580,664 shares during the last quarter. Finally, Principal Financial Group Inc. grew 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 valued at $30,530,000 after buying an additional 524,572 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Stifel Nicolaus lowered Vertex from a "buy" rating to a "hold" rating and lowered their target price for the company from $58.00 to $31.00 in a report on Friday, February 28th. Morgan Stanley lowered their target price on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird lowered 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. The Goldman Sachs Group decreased their price objective on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.73.

Insider Activity at Vertex

In other Vertex news, 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 value of $4,124,945.50. Following the completion of the transaction, the chief executive officer now owns 1,066,587 shares in the company, valued at approximately $40,210,329.90. The trade was a 9.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,555,343.44. Following the completion of the transaction, the general counsel now owns 132 shares of the company's stock, valued at approximately $4,749.36. The trade was a 99.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,398 shares of company stock valued at $5,898,979 in the last 90 days. 44.58% of the stock is owned by corporate insiders.

Vertex Price Performance

VERX stock traded down $1.11 during trading on Friday, hitting $37.94. The company had a trading volume of 635,932 shares, compared to its average volume of 1,022,750. The company has a fifty day moving average price of $37.78 and a two-hundred day moving average price of $45.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The company has a market cap of $6.00 billion, a P/E ratio of 210.78, a P/E/G ratio of 6.66 and a beta of 0.78. Vertex, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly 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 business had revenue of $177.06 million for 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 quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. Equities research analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex 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.