Redwood Investments LLC Invests $1.78 Million in Vertex, Inc. (NASDAQ:VERX)

Redwood Investments LLC bought a new position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 33,431 shares of the company's stock, valued at approximately $1,784,000.

A number of other large investors also recently made changes to their positions in VERX. Steward Partners Investment Advisory LLC bought a new position in shares of Vertex during the fourth quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC bought a new position in Vertex during the 4th quarter worth $40,000. Plato Investment Management Ltd bought a new position in Vertex during the 4th quarter worth $41,000. Armstrong Advisory Group Inc. bought a new position in Vertex during the 4th quarter worth $50,000. Finally, Assetmark Inc. bought a new position in Vertex during the 4th quarter worth $79,000. Institutional investors own 70.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley lowered their price objective on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group lowered their price objective on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 target price on shares of Vertex in a report on Thursday, March 20th. Finally, Stifel Nicolaus downgraded Vertex from a "buy" rating to a "hold" rating and reduced their target price for the company from $58.00 to $31.00 in a report on Friday, February 28th. Four equities research 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.73.

Insider Activity at Vertex

In other Vertex news, CAO Ryan J. Leib sold 5,755 shares of Vertex stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total transaction of $218,690.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Destefano sold 109,415 shares of Vertex stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $37.70, for a total value of $4,124,945.50. Following the transaction, the chief executive officer now directly owns 1,066,587 shares in the company, valued at $40,210,329.90. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,398 shares of company stock valued at $5,898,979 in the last 90 days. 44.58% of the stock is owned by corporate insiders.

Vertex Price Performance

Shares of NASDAQ VERX traded up $0.63 during mid-day trading on Friday, hitting $38.15. 513,176 shares of the stock traded hands, compared to its average volume of 1,020,079. 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, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71. The company has a market cap of $6.03 billion, a PE ratio of 211.94, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78. The firm has a 50 day simple moving average of $37.32 and a two-hundred day simple moving average of $45.98.

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, beating the consensus estimate of $0.13 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company had revenue of $177.06 million for the quarter, compared to the consensus estimate of $176.99 million. During the same quarter last year, the business posted $0.15 EPS. Vertex's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal 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.