Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Vertex, Inc. (NASDAQ:VERX)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 112,803 shares of the company's stock, valued at approximately $6,018,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.07% of Vertex at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in VERX. Barclays PLC boosted its position in Vertex by 5.4% during the 3rd quarter. Barclays PLC now owns 582,273 shares of the company's stock worth $22,424,000 after buying an additional 29,700 shares during the period. Blue Trust Inc. boosted 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 buying an additional 257 shares during the period. KBC Group NV lifted its position in shares of Vertex by 27.1% in the 4th quarter. KBC Group NV now owns 2,668 shares of the company's stock worth $142,000 after purchasing an additional 569 shares during the period. Precision Wealth Strategies LLC acquired a new position in shares of Vertex in the 4th quarter worth approximately $536,000. Finally, abrdn plc increased its stake in shares of Vertex by 74.9% in the 4th quarter. abrdn plc now owns 1,029,177 shares of the company's stock valued at $55,035,000 after acquiring an additional 440,832 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the completion of the transaction, the general counsel now owns 132 shares of the company's stock, valued at approximately $4,749.36. The trade was a 99.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ryan J. Leib sold 5,755 shares of the business's stock in a transaction dated 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. Insiders sold a total of 158,398 shares of company stock valued at $5,898,979 in the last quarter. 44.58% of the stock is owned by insiders.

Vertex Price Performance

NASDAQ VERX traded up $0.26 on Wednesday, reaching $41.12. 230,438 shares of the company's stock traded hands, compared to its average volume of 1,018,228. Vertex, Inc. has a 12 month low of $30.26 and a 12 month high of $60.71. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a 50-day simple moving average of $38.31 and a 200 day simple moving average of $45.27. The stock has a market cap of $6.52 billion, a PE ratio of 228.45, a P/E/G ratio of 6.66 and a beta of 0.78.

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

Analysts Set New Price Targets

A number of analysts have commented on VERX shares. BNP Paribas started coverage on shares of Vertex in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target for the company. Morgan Stanley reduced 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. The Goldman Sachs Group cut their price target on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus downgraded shares of Vertex from a "buy" rating to a "hold" rating and dropped their price objective for the company from $58.00 to $31.00 in a report on Friday, February 28th. Finally, DA Davidson dropped their price objective on shares of Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, April 14th. 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.73.

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.