Millennium Management LLC Acquires 136,423 Shares of Vertex, Inc. (NASDAQ:VERX)

Millennium Management LLC increased its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 87.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 292,494 shares of the company's stock after buying an additional 136,423 shares during the period. Millennium Management LLC owned about 0.19% of Vertex worth $15,605,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VERX. Blue Trust Inc. boosted its stake in Vertex by 11.4% during the fourth quarter. Blue Trust Inc. now owns 2,516 shares of the company's stock worth $134,000 after acquiring an additional 257 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Vertex by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,678 shares of the company's stock worth $303,000 after acquiring an additional 361 shares in the last quarter. KBC Group NV boosted its stake in Vertex by 27.1% during the fourth quarter. KBC Group NV now owns 2,668 shares of the company's stock worth $142,000 after acquiring an additional 569 shares in the last quarter. Cetera Investment Advisers boosted its stake in Vertex by 8.3% during the fourth quarter. Cetera Investment Advisers now owns 7,645 shares of the company's stock worth $408,000 after acquiring an additional 588 shares in the last quarter. Finally, Westover Capital Advisors LLC raised its holdings in Vertex by 1.2% during the fourth quarter. Westover Capital Advisors LLC now owns 55,427 shares of the company's stock worth $2,957,000 after buying an additional 632 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Stock Up 0.3%

Shares of VERX stock traded up $0.11 during mid-day trading on Wednesday, hitting $39.62. The company's stock had a trading volume of 51,764 shares, compared to its average volume of 1,019,173. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 219.97, a PEG ratio of 6.66 and a beta of 0.78. 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, Inc. has a 52-week low of $30.26 and a 52-week high of $60.71. The business has a 50-day moving average price of $37.88 and a 200 day moving average price of $45.61.

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

Insiders Place Their Bets

In related news, CAO Ryan J. Leib sold 5,755 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.00, for a total transaction of $218,690.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the 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 sale, the general counsel now directly owns 132 shares in the company, valued at approximately $4,749.36. This represents a 99.70% decrease in their position. 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 quarter. 44.58% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on VERX. Morgan Stanley lowered their target price 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. The Goldman Sachs Group decreased their price objective on shares of Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Jefferies Financial Group decreased 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. Stifel Nicolaus downgraded shares of Vertex from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $58.00 to $31.00 in a report on Friday, February 28th. Finally, DA Davidson decreased their price objective on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, April 14th. Four investment 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 company has an average rating of "Moderate Buy" and a consensus price target of $50.73.

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.