Redwood Investments LLC Purchases New Shares in Vertex, Inc. (NASDAQ:VERX)

Redwood Investments LLC purchased a new stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 33,431 shares of the company's stock, valued at approximately $1,784,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Vertex by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company's stock worth $365,927,000 after purchasing an additional 137,666 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Vertex by 1.5% during the fourth quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company's stock worth $188,198,000 after buying an additional 53,829 shares in the last quarter. FMR LLC raised its holdings in Vertex by 25.4% in the 4th quarter. FMR LLC now owns 2,868,438 shares of the company's stock worth $153,031,000 after purchasing an additional 580,664 shares during the period. Franklin Resources Inc. grew its stake in Vertex by 26.0% in the 4th quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company's stock valued at $113,587,000 after acquiring an additional 439,054 shares during the period. Finally, Invesco Ltd. raised its position in shares of Vertex by 342.5% during the 4th quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock worth $80,754,000 after purchasing an additional 1,171,576 shares during the last quarter. Institutional investors own 70.32% of the company's stock.

Insiders Place Their Bets

In other Vertex news, CAO Ryan J. Leib sold 5,755 shares of the company's 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total value of $1,555,343.44. Following the completion of the sale, the general counsel now owns 132 shares in the company, valued at $4,749.36. This represents a 99.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,398 shares of company stock worth $5,898,979. Company insiders own 44.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VERX shares. Morgan Stanley dropped their target price on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. BNP Paribas started coverage on shares of Vertex in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 target price on the stock. DA Davidson dropped their price objective on Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Robert W. Baird cut their target price on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Finally, Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Vertex in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.73.

Vertex Stock Performance

Shares of VERX traded up $0.16 during mid-day trading on Tuesday, reaching $38.67. 178,011 shares of the company's stock were exchanged, compared to its average volume of 1,250,074. The stock has a market capitalization of $6.12 billion, a PE ratio of 214.83, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78. The business's fifty day simple moving average is $37.41 and its 200-day simple moving average is $45.98. 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 52-week low of $30.26 and a 52-week high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results 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. 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%. The company's revenue was up 12.9% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. On average, equities research analysts expect that Vertex, Inc. will post 0.38 earnings per share 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.