Voloridge Investment Management LLC Buys Shares of 20,932 Vertex, Inc. (NASDAQ:VERX)

Voloridge Investment Management LLC acquired a new stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,932 shares of the company's stock, valued at approximately $1,117,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its position 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 in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Vertex by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,678 shares of the company's stock valued at $303,000 after acquiring an additional 361 shares during the period. KBC Group NV raised its holdings in shares of Vertex by 27.1% during the fourth quarter. KBC Group NV now owns 2,668 shares of the company's stock valued at $142,000 after acquiring an additional 569 shares during the period. Cetera Investment Advisers raised its holdings in shares of Vertex by 8.3% during the fourth quarter. Cetera Investment Advisers now owns 7,645 shares of the company's stock valued at $408,000 after acquiring an additional 588 shares during the period. Finally, Westover Capital Advisors LLC grew its position in Vertex by 1.2% during the fourth quarter. Westover Capital Advisors LLC now owns 55,427 shares of the company's stock valued at $2,957,000 after purchasing an additional 632 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VERX has been the subject of several recent research reports. Robert W. Baird decreased their target price 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 dropped their price objective on shares of Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research note on Friday, February 28th. DA Davidson dropped their price objective on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus lowered shares of Vertex from a "buy" rating to a "hold" rating and lowered their target price for the stock from $58.00 to $31.00 in a report on Friday, February 28th. Finally, BNP Paribas assumed coverage on shares of Vertex in a report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Vertex has a consensus rating of "Moderate Buy" and an average target price of $50.73.

Vertex Trading Up 0.6%

Shares of Vertex stock traded up $0.24 on Friday, reaching $39.75. 1,322,526 shares of the company's stock were exchanged, compared to its average volume of 1,024,734. Vertex, Inc. has a 52 week low of $30.26 and a 52 week high of $60.71. The firm's 50-day moving average is $38.12 and its two-hundred day moving average is $45.43. 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 capitalization of $6.30 billion, a P/E ratio of 220.83, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results 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 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 revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.15 EPS. Sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm'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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Destefano sold 109,415 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $37.70, for a total value of $4,124,945.50. Following the completion of the transaction, the chief executive officer now directly owns 1,066,587 shares in the company, valued at $40,210,329.90. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,398 shares of company stock worth $5,898,979 in the last quarter. 44.58% of the stock is owned by insiders.

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.