11,155 Shares in Vertex, Inc. (NASDAQ:VERX) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Vertex, Inc. (NASDAQ:VERX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,155 shares of the company's stock, valued at approximately $595,000.

A number of other institutional investors have also made changes to their positions in VERX. Steward Partners Investment Advisory LLC bought a new stake in Vertex during the 4th quarter worth about $38,000. Mark Sheptoff Financial Planning LLC bought a new stake in Vertex during the 4th quarter worth about $40,000. Plato Investment Management Ltd bought a new stake in Vertex during the 4th quarter worth about $41,000. Armstrong Advisory Group Inc. bought a new stake in Vertex during the 4th quarter worth about $50,000. Finally, Assetmark Inc. bought a new stake in Vertex during the 4th quarter worth about $79,000. 70.32% of the stock is owned by institutional investors.

Vertex Stock Down 3.0%

Shares of VERX traded down $1.16 on Monday, hitting $37.18. The company's stock had a trading volume of 680,122 shares, compared to its average volume of 1,015,551. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm's fifty day moving average price is $36.78 and its 200-day moving average price is $46.16. Vertex, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $60.71. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 206.39, a P/E/G ratio of 6.66 and a beta of 0.78.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BNP Paribas assumed coverage on Vertex in a report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price objective for the company. Robert W. Baird lowered their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Morgan Stanley lowered their price target on Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price target on shares of Vertex in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group lowered their price target on Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $50.73.

Insider Activity

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the 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 owns 132 shares in the company, valued at $4,749.36. This trade represents a 99.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 44.58% of the stock is currently 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.