Vertex, Inc. (NASDAQ:VERX) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its position in Vertex, Inc. (NASDAQ:VERX - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,000 shares of the company's stock after selling 14,200 shares during the quarter. Two Sigma Advisers LP's holdings in Vertex were worth $1,654,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new position in Vertex during the 4th quarter valued at about $38,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Vertex during the fourth quarter valued at approximately $40,000. Plato Investment Management Ltd bought a new position in shares of Vertex during the fourth quarter valued at approximately $41,000. Assetmark Inc. purchased a new stake in shares of Vertex in the fourth quarter worth approximately $79,000. Finally, Lazard Asset Management LLC raised 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 worth $132,000 after buying an additional 2,456 shares during the period. Institutional investors own 70.32% of the company's stock.

Insider Transactions at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction 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 transaction, the general counsel now directly owns 132 shares of the company's stock, valued at approximately $4,749.36. The trade was a 99.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ryan J. Leib sold 5,755 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was 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. In the last three months, insiders sold 158,398 shares of company stock valued at $5,898,979. Corporate insiders own 44.58% of the company's stock.

Vertex Stock Up 0.6%

Vertex stock traded up $0.24 during midday trading on Friday, hitting $39.75. 1,322,526 shares of the company's stock were exchanged, compared to its average volume of 1,024,065. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $6.30 billion, a PE ratio of 220.83, a P/E/G ratio of 6.66 and a beta of 0.78. The firm has a 50-day moving average of $38.12 and a two-hundred day moving average of $45.40. Vertex, Inc. has a 12 month low of $30.26 and a 12 month high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings data 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 company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $0.15 earnings per share. As a group, analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on VERX shares. Needham & Company LLC restated a "buy" rating and set a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Jefferies Financial Group decreased their target price on Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, February 28th. 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 research note on Wednesday, April 16th. Robert W. Baird cut their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Finally, Stifel Nicolaus downgraded shares of Vertex from a "buy" rating to a "hold" rating and reduced their price target for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Vertex has a consensus rating of "Moderate Buy" and an average target price of $50.73.

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.