UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $8.83 Million Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,521 shares of the company's stock after acquiring an additional 25,991 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of Vertex worth $8,831,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Blue Trust Inc. grew its position in Vertex by 11.4% during the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company's stock worth $134,000 after acquiring an additional 257 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Vertex by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,678 shares of the company's stock worth $303,000 after buying an additional 361 shares in the last quarter. KBC Group NV lifted its holdings in Vertex by 27.1% during the 4th quarter. KBC Group NV now owns 2,668 shares of the company's stock worth $142,000 after buying an additional 569 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Vertex by 8.3% during the 4th quarter. Cetera Investment Advisers now owns 7,645 shares of the company's stock worth $408,000 after buying an additional 588 shares in the last quarter. Finally, Westover Capital Advisors LLC lifted its holdings in Vertex by 1.2% during the 4th 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 in the last quarter. 70.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO David Destefano sold 109,415 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $37.70, for a total transaction of $4,124,945.50. Following the completion of the transaction, the chief executive officer now directly owns 1,066,587 shares of the company's stock, valued at approximately $40,210,329.90. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ryan J. Leib sold 5,755 shares of the 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 158,398 shares of company stock worth $5,898,979. Corporate insiders own 43.25% of the company's stock.

Vertex Trading Up 1.4%

Shares of VERX traded up $0.56 during trading hours on Wednesday, reaching $41.42. The stock had a trading volume of 559,573 shares, compared to its average volume of 1,020,724. 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. The firm has a 50-day moving average of $38.42 and a 200 day moving average of $45.25. The company has a market cap of $6.56 billion, a P/E ratio of 230.11, a P/E/G ratio of 6.66 and a beta of 0.75.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business had revenue of $177.06 million during the quarter, compared to analysts' expectations of $176.99 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm's quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. BNP Paribas assumed coverage on Vertex in a report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. DA Davidson reduced their price objective on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley cut their price target on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $60.00 price target on shares of Vertex in a research note on Thursday, March 20th. Four investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.