Bessemer Group Inc. Has $24.32 Million Stock Position in Vertex, Inc. (NASDAQ:VERX)

Bessemer Group Inc. grew its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 23.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 694,702 shares of the company's stock after acquiring an additional 133,541 shares during the quarter. Bessemer Group Inc. owned 0.44% of Vertex worth $24,323,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of Vertex in the 1st quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC bought a new position in Vertex during the 4th quarter worth $38,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Vertex in the fourth quarter worth $40,000. Plato Investment Management Ltd bought a new position in shares of Vertex in the fourth quarter worth $41,000. Finally, Assetmark Inc. bought a new stake in shares of Vertex during the fourth quarter worth about $79,000. Institutional investors and hedge funds own 70.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Jefferies Financial Group reduced their price target on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus downgraded shares of Vertex from a "buy" rating to a "hold" rating and decreased their target price for the company from $58.00 to $31.00 in a research report on Friday, February 28th. Morgan Stanley decreased their target price 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. Needham & Company LLC reissued a "buy" rating and set a $60.00 target price on shares of Vertex in a research report on Thursday, March 20th. Finally, Piper Sandler assumed coverage on shares of Vertex in a research report on Monday, June 16th. They set an "overweight" rating and a $48.00 target price for the company. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vertex has an average rating of "Moderate Buy" and an average price target of $50.50.

Insider Buying and Selling

In related news, insider Item Second Irr. Trust Fbo Ann sold 8,832 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $35.12, for a total value of $310,179.84. Following the completion of the sale, the insider now directly owns 188,009 shares of the company's stock, valued at approximately $6,602,876.08. This represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Ryan J. Leib sold 5,755 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.00, for a total value of $218,690.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,520,170 shares of company stock worth $134,479,744 in the last ninety days. Corporate insiders own 43.25% of the company's stock.

Vertex Price Performance

Vertex stock opened at $33.99 on Friday. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of -117.20, a PEG ratio of 4.16 and a beta of 0.75. Vertex, Inc. has a 52-week low of $30.26 and a 52-week high of $60.71. The stock's 50 day moving average price is $38.32 and its two-hundred day moving average price is $43.33. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.98 and a current ratio of 0.98.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. The company had revenue of $177.06 million for the quarter, compared to analysts' expectations of $176.99 million. During the same period last year, the business earned $0.15 EPS. Vertex's quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

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.

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