Bank of America Corp DE Has $29.43 Million Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Bank of America Corp DE lifted its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 47.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 551,620 shares of the company's stock after purchasing an additional 178,367 shares during the period. Bank of America Corp DE owned 0.35% of Vertex worth $29,429,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in VERX. Barclays PLC increased its stake in shares of Vertex by 5.4% in the third quarter. Barclays PLC now owns 582,273 shares of the company's stock worth $22,424,000 after purchasing an additional 29,700 shares during the period. Ellsworth Advisors LLC increased its stake in shares of Vertex by 3.5% in the fourth quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company's stock worth $922,000 after purchasing an additional 584 shares during the period. Sheets Smith Wealth Management increased its stake in shares of Vertex by 2.2% in the fourth quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company's stock worth $806,000 after purchasing an additional 324 shares during the period. Blue Trust Inc. increased its stake in shares of Vertex by 11.4% in the fourth quarter. Blue Trust Inc. now owns 2,516 shares of the company's stock worth $134,000 after purchasing an additional 257 shares during the period. Finally, KBC Group NV increased its stake in shares of Vertex by 27.1% in the fourth 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. 70.32% of the stock is currently owned by institutional investors.

Insider Transactions at Vertex

In other news, CAO Ryan J. Leib sold 5,755 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total value of $218,690.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction that occurred on 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 directly owns 132 shares in the company, valued at $4,749.36. The trade was a 99.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,398 shares of company stock valued at $5,898,979 in the last three months. 44.58% of the stock is owned by corporate insiders.

Vertex Price Performance

NASDAQ VERX traded down $1.11 during trading on Friday, reaching $37.94. 635,932 shares of the company traded hands, compared to its average volume of 1,020,702. 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 stock's 50 day moving average price is $37.78 and its two-hundred day moving average price is $45.82. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 210.78, a P/E/G ratio of 6.66 and a beta of 0.78. Vertex, Inc. has a 1-year low of $30.26 and a 1-year 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 for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. The company had revenue of $177.06 million for the quarter, compared to the consensus estimate of $176.99 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on VERX shares. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price objective on shares of Vertex in a research note on Thursday, March 20th. Morgan Stanley lowered 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. Robert W. Baird lowered their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Jefferies Financial Group lowered their price target on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, BNP Paribas began coverage on Vertex in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.