Vertex, Inc. (NASDAQ:VERX) Shares Acquired by LPL Financial LLC

LPL Financial LLC raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 23.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,877 shares of the company's stock after purchasing an additional 7,089 shares during the quarter. LPL Financial LLC's holdings in Vertex were worth $1,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in shares of Vertex by 36.4% during the 3rd quarter. State Street Corp now owns 1,361,901 shares of the company's stock valued at $52,447,000 after buying an additional 363,595 shares in the last quarter. Barclays PLC increased its stake in Vertex by 5.4% during the third quarter. Barclays PLC now owns 582,273 shares of the company's stock worth $22,424,000 after acquiring an additional 29,700 shares during the last quarter. Geode Capital Management LLC raised its position in Vertex by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company's stock valued at $49,121,000 after purchasing an additional 37,592 shares during the period. Franklin Resources Inc. lifted its stake in shares of Vertex by 17.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company's stock valued at $69,444,000 after purchasing an additional 253,263 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Vertex by 29.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 933,034 shares of the company's stock worth $35,932,000 after purchasing an additional 211,896 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VERX has been the topic of several recent research reports. The Goldman Sachs Group decreased their price target on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and issued a $60.00 target price on shares of Vertex in a research note on Thursday, March 20th. Raymond James reaffirmed a "market perform" rating on shares of Vertex in a research note on Friday, January 3rd. Morgan Stanley cut their price target on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group decreased 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. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Vertex currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.91.

Insider Transactions at Vertex

In other news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the transaction, the insider now directly owns 1,229,257 shares of the company's stock, valued at approximately $69,428,435.36. The trade was a 4.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company's stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 44.58% of the company's stock.

Vertex Trading Up 0.8 %

VERX traded up $0.31 during trading on Friday, hitting $39.25. 692,229 shares of the stock were exchanged, compared to its average volume of 1,034,425. 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 50 day simple moving average of $37.71 and a 200 day simple moving average of $46.42. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 218.06, a P/E/G 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.

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

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.