Vertex, Inc. (NASDAQ:VERX) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 558,887 shares of the company's stock after purchasing an additional 28,083 shares during the period. Northern Trust Corp owned about 0.36% of Vertex worth $29,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VERX. Public Employees Retirement Association of Colorado boosted its stake in Vertex by 21.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 510,267 shares of the company's stock worth $27,223,000 after purchasing an additional 89,700 shares during the last quarter. Bullseye Asset Management LLC increased its holdings in shares of Vertex by 13.8% in the fourth quarter. Bullseye Asset Management LLC now owns 76,360 shares of the company's stock valued at $4,074,000 after purchasing an additional 9,289 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Vertex by 8.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,016,425 shares of the company's stock worth $54,226,000 after buying an additional 83,391 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Vertex by 576.7% during the 4th quarter. Voya Investment Management LLC now owns 120,038 shares of the company's stock valued at $6,404,000 after acquiring an additional 102,300 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Vertex by 8.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,337,758 shares of the company's stock valued at $71,369,000 after purchasing an additional 108,314 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VERX has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus lowered shares of Vertex from a "buy" rating to a "hold" rating and lowered their target price for the stock from $58.00 to $31.00 in a research note on Friday, February 28th. DA Davidson cut their target price on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. BNP Paribas assumed coverage on Vertex in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 price objective for the company. Finally, Robert W. Baird decreased their target price on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Vertex currently has an average rating of "Moderate Buy" and a consensus price target of $50.73.

Vertex Stock Up 2.3%

Shares of Vertex stock traded up $0.87 on Wednesday, reaching $38.80. 1,122,562 shares of the company were exchanged, compared to its average volume of 1,019,374. The stock's 50 day moving average price is $37.07 and its 200-day moving average price is $46.02. 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 1-year low of $30.26 and a 1-year high of $60.71. The company has a market cap of $6.14 billion, a P/E ratio of 215.56, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $177.06 million for the quarter, compared to the consensus estimate of $176.99 million. During the same period in the prior year, the firm posted $0.15 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Transactions at Vertex

In other news, CAO Ryan J. Leib sold 5,755 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total value of $218,690.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of Vertex stock in a transaction on 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 $4,749.36. The trade was 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 valued at $5,898,979. Corporate 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.