Vertex, Inc. (NASDAQ:VERX) Stock Position Lifted by Nuveen Asset Management LLC

Nuveen Asset Management LLC lifted its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,985 shares of the company's stock after acquiring an additional 7,364 shares during the period. Nuveen Asset Management LLC owned 0.10% of Vertex worth $8,215,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of VERX. Barclays PLC boosted its holdings in Vertex by 5.4% in the third quarter. Barclays PLC now owns 582,273 shares of the company's stock valued at $22,424,000 after acquiring an additional 29,700 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Vertex by 11.4% in the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company's stock worth $134,000 after purchasing an additional 257 shares during the period. KBC Group NV lifted its stake in shares of Vertex by 27.1% in the 4th quarter. KBC Group NV now owns 2,668 shares of the company's stock valued at $142,000 after purchasing an additional 569 shares in the last quarter. Precision Wealth Strategies LLC acquired a new position in shares of Vertex in the 4th quarter valued at about $536,000. Finally, abrdn plc grew its holdings in shares of Vertex by 74.9% during the 4th quarter. abrdn plc now owns 1,029,177 shares of the company's stock worth $55,035,000 after purchasing an additional 440,832 shares during the period. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertex

In other Vertex news, CAO Ryan J. Leib sold 5,755 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.00, for a total value of $218,690.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction that occurred 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 sale, the general counsel now directly owns 132 shares in the company, valued at approximately $4,749.36. This trade 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 ninety days. Company insiders own 44.58% of the company's stock.

Analyst Ratings Changes

VERX has been the subject of several research reports. 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 research note on Friday, February 28th. BNP Paribas began coverage on shares of Vertex in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target for the company. Robert W. Baird lowered their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Needham & Company LLC reissued a "buy" rating and issued a $60.00 price objective on shares of Vertex in a research report on Thursday, March 20th. Finally, Morgan Stanley decreased their target price on Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vertex presently has an average rating of "Moderate Buy" and an average target price of $50.73.

Vertex Stock Performance

NASDAQ:VERX traded up $0.24 during trading hours on Friday, reaching $39.75. 1,322,526 shares of the stock were exchanged, compared to its average volume of 1,024,734. The stock has a market capitalization of $6.30 billion, a P/E ratio of 220.83, a P/E/G ratio of 6.66 and a beta of 0.78. The firm has a 50 day simple moving average of $38.12 and a 200-day simple moving average of $45.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 52 week low of $30.26 and a 52 week high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.15 earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal 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.