FORA Capital LLC Makes New Investment in Vertex, Inc. (NASDAQ:VERX)

FORA Capital LLC purchased a new position in Vertex, Inc. (NASDAQ:VERX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,164 shares of the company's stock, valued at approximately $489,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in shares of Vertex by 342.5% during the fourth quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock worth $80,754,000 after acquiring an additional 1,171,576 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Vertex in the fourth quarter valued at $61,825,000. Price T Rowe Associates Inc. MD grew its holdings in Vertex by 233.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 851,127 shares of the company's stock worth $45,409,000 after purchasing an additional 596,077 shares during the period. FMR LLC boosted its stake in shares of Vertex by 25.4% during the 4th quarter. FMR LLC now owns 2,868,438 shares of the company's stock worth $153,031,000 after acquiring an additional 580,664 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Vertex by 1,100.4% in the fourth quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock valued at $30,530,000 after purchasing an additional 524,572 shares during the last quarter. Institutional investors own 70.32% of the company's stock.

Insider Transactions at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm's stock in a transaction 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 directly owns 132 shares in the company, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 44.58% of the stock is currently owned by insiders.

Vertex Trading Up 2.2 %

NASDAQ VERX opened at $38.33 on Friday. The stock has a market capitalization of $6.06 billion, a P/E ratio of 212.94, a P/E/G ratio of 6.66 and a beta of 0.78. Vertex, Inc. has a one year low of $30.26 and a one year high of $60.71. The business has a 50 day simple moving average of $36.78 and a 200 day simple moving average of $46.10. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $176.99 million. During the same period last year, the business posted $0.15 EPS. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. Research analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Robert W. Baird reduced their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Morgan Stanley decreased their target price on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. DA Davidson lowered their price target on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus lowered 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. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertex has a consensus rating of "Moderate Buy" and a consensus price target 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.

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