Nuveen LLC Buys Shares of 146,251 Vertex, Inc. $VERX

Key Points

• Nuveen LLC purchased 146,251 shares of Vertex, Inc. for approximately $5.12 million, bringing its total ownership to 0.09% as of the latest SEC filing.
• The trading performance of Vertex, Inc. saw shares drop 1.9%, with a current stock price around $24.87 and a twelve-month high of $60.71.
• Insider sales have amounted to 3.4 million shares in the past 90 days, indicating a significant decrease in positions held by insiders.

Nuveen LLC bought a new stake in Vertex, Inc. (NASDAQ:VERX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 146,251 shares of the company's stock, valued at approximately $5,120,000. Nuveen LLC owned 0.09% of Vertex as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Aigen Investment Management LP acquired a new stake in Vertex in the first quarter valued at $297,000. Mizuho Markets Americas LLC lifted its holdings in Vertex by 40.5% in the first quarter. Mizuho Markets Americas LLC now owns 287,117 shares of the company's stock valued at $10,052,000 after acquiring an additional 82,818 shares during the period. Gagnon Advisors LLC lifted its holdings in Vertex by 40.0% in the first quarter. Gagnon Advisors LLC now owns 161,813 shares of the company's stock valued at $5,665,000 after acquiring an additional 46,219 shares during the period. Swiss National Bank lifted its holdings in Vertex by 11.8% in the first quarter. Swiss National Bank now owns 129,300 shares of the company's stock valued at $4,527,000 after acquiring an additional 13,600 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in Vertex in the first quarter valued at $1,435,000. Institutional investors and hedge funds own 70.32% of the company's stock.

Vertex Trading Down 1.9%

Shares of VERX stock opened at $24.87 on Wednesday. The firm has a 50-day moving average price of $32.09 and a 200 day moving average price of $36.33. Vertex, Inc. has a twelve month low of $24.45 and a twelve month high of $60.71. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -75.36, a PEG ratio of 5.26 and a beta of 0.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Vertex had a negative net margin of 7.09% and a positive return on equity of 27.16%. The firm had revenue of $184.56 million during the quarter, compared to the consensus estimate of $184.60 million. During the same quarter in the previous year, the company posted $0.15 EPS. The firm's revenue for the quarter was up 14.6% on a year-over-year basis. Research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In other Vertex news, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of Vertex stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $35.24, for a total value of $508,337.00. Following the completion of the sale, the insider owned 173,074 shares in the company, valued at $6,099,127.76. The trade was a 7.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Westphal sold 3,000,000 shares of Vertex stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $38.45, for a total value of $115,350,000.00. Following the completion of the sale, the insider owned 7,895 shares of the company's stock, valued at $303,562.75. This trade represents a 99.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,405,000 shares of company stock valued at $130,136,108 in the last 90 days. 43.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JMP Securities set a $50.00 price target on Vertex and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Citigroup raised Vertex from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Needham & Company LLC cut their price target on Vertex from $60.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group set a $43.00 price target on Vertex and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Bank of America cut their price target on Vertex from $42.00 to $34.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.69.

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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