Voya Investment Management LLC Buys 102,300 Shares of Vertex, Inc. (NASDAQ:VERX)

Voya Investment Management LLC lifted its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 576.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,038 shares of the company's stock after buying an additional 102,300 shares during the period. Voya Investment Management LLC owned about 0.08% of Vertex worth $6,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Vertex by 342.5% in the 4th quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock worth $80,754,000 after acquiring an additional 1,171,576 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Vertex during the fourth quarter valued at about $61,825,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Vertex by 233.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 851,127 shares of the company's stock worth $45,409,000 after purchasing an additional 596,077 shares during the period. FMR LLC grew its position in shares of 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 buying an additional 580,664 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Vertex by 1,100.4% in the fourth quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock valued at $30,530,000 after acquiring an additional 524,572 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.

Wall Street Analyst Weigh In

VERX has been the subject of several research analyst reports. DA Davidson lowered their price objective on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, April 14th. Jefferies Financial Group dropped their price target on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus lowered shares of Vertex from a "buy" rating to a "hold" rating and reduced their price objective for the company from $58.00 to $31.00 in a research note on Friday, February 28th. Needham & Company LLC restated a "buy" rating and issued a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Finally, Robert W. Baird reduced their price objective on Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Four research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.73.

Insider Buying and Selling

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 44.58% of the stock is currently owned by insiders.

Vertex Stock Performance

VERX traded down $0.21 during midday trading on Monday, reaching $39.00. The company had a trading volume of 203,242 shares, compared to its average volume of 1,007,533. Vertex, Inc. has a 1 year low of $28.04 and a 1 year high of $60.71. 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 company has a market cap of $6.17 billion, a P/E ratio of 216.69, a P/E/G ratio of 6.66 and a beta of 0.78. The business has a 50-day moving average of $36.44 and a two-hundred day moving average of $46.31.

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