Deutsche Bank AG Trims Stock Position in Vertex, Inc. (NASDAQ:VERX)

Deutsche Bank AG reduced its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,442 shares of the company's stock after selling 28,436 shares during the quarter. Deutsche Bank AG's holdings in Vertex were worth $2,478,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its position in Vertex by 5.4% during 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 in the last quarter. Sheets Smith Wealth Management raised its stake in shares of Vertex by 2.2% during the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company's stock worth $806,000 after buying an additional 324 shares during the period. Blue Trust Inc. raised its stake in shares of 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% during the 4th quarter. KBC Group NV now owns 2,668 shares of the company's stock valued at $142,000 after buying an additional 569 shares in the last quarter. Finally, Precision Wealth Strategies LLC acquired a new stake in Vertex in the 4th quarter valued at $536,000. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on VERX. Robert W. Baird reduced their price objective on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Jefferies Financial Group decreased their price objective on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, February 28th. 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 report on Wednesday, April 16th. BNP Paribas initiated coverage on shares of Vertex in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price target on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $50.73.

Insider Activity

In related news, CAO Ryan J. Leib sold 5,755 shares of Vertex 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,555,343.44. Following the transaction, the general counsel now owns 132 shares of the company's stock, valued at $4,749.36. This trade represents a 99.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,398 shares of company stock valued at $5,898,979. 44.58% of the stock is currently owned by company insiders.

Vertex Trading Up 4.1%

NASDAQ VERX traded up $1.57 on Tuesday, reaching $39.51. The stock had a trading volume of 1,084,479 shares, compared to its average volume of 1,022,997. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a fifty day moving average price of $37.88 and a two-hundred day moving average price of $45.61. Vertex, Inc. has a 12-month low of $30.26 and a 12-month high of $60.71. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 219.50, a P/E/G ratio of 6.66 and a beta of 0.78.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 24.92% and a net margin of 4.73%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, sell-side analysts forecast that Vertex, Inc. will post 0.38 EPS 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.