Royce & Associates LP Grows Position in Vertex, Inc. (NASDAQ:VERX)

Royce & Associates LP raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 109.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,272 shares of the company's stock after buying an additional 38,272 shares during the quarter. Royce & Associates LP's holdings in Vertex were worth $2,565,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of VERX. Versant Capital Management Inc purchased a new stake in shares of Vertex in the first quarter valued at about $28,000. Lazard Asset Management LLC grew its holdings in shares of Vertex by 7,675.0% in the fourth quarter. Lazard Asset Management LLC now owns 2,488 shares of the company's stock valued at $132,000 after purchasing an additional 2,456 shares during the period. IFP Advisors Inc purchased a new stake in shares of Vertex in the first quarter valued at about $133,000. GAMMA Investing LLC grew its holdings in shares of Vertex by 1,719.4% in the first quarter. GAMMA Investing LLC now owns 5,076 shares of the company's stock valued at $178,000 after purchasing an additional 4,797 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Vertex by 75.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,734 shares of the company's stock valued at $199,000 after purchasing an additional 1,604 shares during the period. Hedge funds and other institutional investors own 70.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BNP Paribas assumed coverage on shares of Vertex in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 price objective for the company. Piper Sandler began coverage on shares of Vertex in a report on Monday, June 16th. They issued an "overweight" rating and a $48.00 price objective for the company. DA Davidson raised shares of Vertex to a "strong-buy" rating in a research report on Tuesday, July 22nd. Morgan Stanley decreased their target price on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup upped their target price on shares of Vertex from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.33.

Insider Buying and Selling at Vertex

In related news, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $35.24, for a total value of $508,337.00. Following the sale, the insider owned 173,074 shares of the company's stock, valued at $6,099,127.76. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $218,690.00. The disclosure for this sale can be found here. Insiders sold a total of 3,520,170 shares of company stock worth $134,479,744 over the last ninety days. Company insiders own 43.25% of the company's stock.

Vertex Stock Down 1.6%

Shares of VERX opened at $34.21 on Monday. The stock has a market capitalization of $5.42 billion, a PE ratio of -117.96, a P/E/G ratio of 4.19 and a beta of 0.71. Vertex, Inc. has a 1 year low of $30.26 and a 1 year high of $60.71. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.98 and a current ratio of 0.98. The company's 50-day simple moving average is $36.86 and its 200-day simple moving average is $40.56.

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

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.

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