Jane Street Group LLC Boosts Position in Vertex, Inc. (NASDAQ:VERX)

Jane Street Group LLC boosted its stake in Vertex, Inc. (NASDAQ:VERX - Free Report) by 72.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,870 shares of the company's stock after buying an additional 45,615 shares during the quarter. Jane Street Group LLC owned approximately 0.07% of Vertex worth $5,808,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VERX. Steward Partners Investment Advisory LLC purchased a new stake in shares of Vertex in the 4th quarter valued at approximately $38,000. Mark Sheptoff Financial Planning LLC acquired a new position in Vertex during the fourth quarter worth $40,000. Plato Investment Management Ltd acquired a new stake in shares of Vertex in the fourth quarter valued at $41,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex in the 4th quarter valued at $50,000. Finally, Assetmark Inc. acquired a new position in Vertex during the 4th quarter worth about $79,000. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex

In related news, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 44.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group decreased their price objective on Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Robert W. Baird dropped their price objective 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. BNP Paribas began coverage on shares of Vertex in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price objective for the company. Stifel Nicolaus lowered Vertex from a "buy" rating to a "hold" rating and cut their target price for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Finally, Morgan Stanley cut 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. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Vertex has an average rating of "Moderate Buy" and a consensus target price of $50.73.

Vertex Price Performance

VERX traded down $0.92 on Monday, hitting $37.41. 1,304,742 shares of the company were exchanged, compared to its average volume of 1,017,911. Vertex, Inc. has a fifty-two week low of $30.26 and a fifty-two week 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. The firm has a market capitalization of $5.92 billion, a P/E ratio of 207.83, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78. The business's fifty day moving average is $36.87 and its 200 day moving average is $46.13.

Vertex (NASDAQ:VERX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, topping 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%. Vertex's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, sell-side analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current year.

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.