Janus Henderson Group PLC Sells 105,850 Shares of Vertex, Inc. (NASDAQ:VERX)

Janus Henderson Group PLC trimmed its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 666,436 shares of the company's stock after selling 105,850 shares during the quarter. Janus Henderson Group PLC owned 0.43% of Vertex worth $35,555,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VERX. Jefferies Financial Group Inc. bought a new stake in Vertex in the 4th quarter valued at $1,909,000. FORA Capital LLC bought a new stake in Vertex in the 4th quarter valued at $489,000. D. E. Shaw & Co. Inc. lifted its position in Vertex by 28.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company's stock valued at $2,887,000 after acquiring an additional 11,966 shares in the last quarter. Driehaus Capital Management LLC lifted its position in Vertex by 5.1% in the 4th quarter. Driehaus Capital Management LLC now owns 1,063,711 shares of the company's stock valued at $56,749,000 after acquiring an additional 51,730 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Vertex by 8.3% in the 4th quarter. Cetera Investment Advisers now owns 7,645 shares of the company's stock valued at $408,000 after acquiring an additional 588 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on VERX. Robert W. Baird cut 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. Morgan Stanley cut their price objective on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. BNP Paribas began coverage on shares of Vertex in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 price objective on the stock. Jefferies Financial Group cut their price target on shares of Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, The Goldman Sachs Group cut 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.73.

Vertex Trading Up 2.3%

Shares of NASDAQ:VERX opened at $38.80 on Thursday. The stock has a market capitalization of $6.14 billion, a PE ratio of 215.56, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78. The company's 50-day moving average price is $37.07 and its two-hundred day moving average price is $46.02. Vertex, Inc. has a one year low of $30.26 and a one year high of $60.71. 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 released its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $177.06 million for the quarter, compared to analyst estimates of $176.99 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Vertex's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. On average, equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Insider Transactions at Vertex

In other Vertex news, CAO Ryan J. Leib sold 5,755 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $38.00, for a total value of $218,690.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the 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 completion of the transaction, the general counsel now directly owns 132 shares in the company, valued at approximately $4,749.36. This represents a 99.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,398 shares of company stock worth $5,898,979 in the last ninety days. Insiders own 44.58% of the company's stock.

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.

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