Invesco Ltd. Has $80.75 Million Holdings in Vertex, Inc. (NASDAQ:VERX)

Invesco Ltd. increased its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 342.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,513,660 shares of the company's stock after acquiring an additional 1,171,576 shares during the quarter. Invesco Ltd. owned 0.97% of Vertex worth $80,754,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fairman Group LLC acquired a new stake in shares of Vertex in the fourth quarter worth $327,000. Empowered Funds LLC acquired a new stake in Vertex during the 4th quarter worth about $3,363,000. Triasima Portfolio Management inc. purchased a new position in Vertex during the 4th quarter valued at about $3,135,000. Principal Financial Group Inc. grew its stake in Vertex by 1,100.4% during the 4th quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock valued at $30,530,000 after acquiring an additional 524,572 shares in the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Vertex in the 4th quarter valued at about $534,000. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Price Performance

Shares of VERX stock traded up $0.31 during mid-day trading on Friday, reaching $39.25. The company's stock had a trading volume of 692,229 shares, compared to its average volume of 1,028,704. The firm's 50-day moving average is $37.97 and its two-hundred day moving average is $46.35. The company has a market cap of $6.21 billion, a P/E ratio of 218.06, a PEG ratio of 6.66 and a beta of 0.80. Vertex, Inc. has a 1-year low of $27.22 and a 1-year high of $60.71. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. On average, research analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Raymond James restated a "market perform" rating on shares of Vertex in a report on Friday, January 3rd. Needham & Company LLC restated a "buy" rating and issued a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Jefferies Financial Group reduced their target price 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. Stifel Nicolaus lowered shares of Vertex from a "buy" rating to a "hold" rating and dropped their price target for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. Finally, Robert W. Baird cut their price objective on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.91.

Insider Activity at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the sale, the general counsel now directly owns 132 shares of the company's stock, valued at approximately $4,749.36. This represents a 99.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the completion of the transaction, the insider now owns 1,229,257 shares of the company's stock, valued at $69,428,435.36. This trade represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. 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.