Vertex, Inc. (NASDAQ:VERX) Stock Position Increased by Voya Investment Management LLC

Voya Investment Management LLC raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 576.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,038 shares of the company's stock after purchasing an additional 102,300 shares during the quarter. Voya Investment Management LLC owned approximately 0.08% of Vertex worth $6,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Vertex during the fourth quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC bought a new stake in Vertex during the fourth quarter worth about $40,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex in the 4th quarter worth approximately $41,000. Armstrong Advisory Group Inc. purchased a new position in shares of Vertex in the 4th quarter worth about $50,000. Finally, Assetmark Inc. purchased a new position in Vertex in the fourth quarter worth about $79,000. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VERX shares. BNP Paribas started coverage on shares of Vertex in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 target price for the company. DA Davidson reduced their price target on shares of Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Stifel Nicolaus downgraded Vertex from a "buy" rating to a "hold" rating and lowered their target price for the company from $58.00 to $31.00 in a research report on Friday, February 28th. The Goldman Sachs Group dropped their price target on Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, Morgan Stanley reduced their price target on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.73.

Vertex Stock Down 1.5 %

Shares of NASDAQ:VERX traded down $0.60 during trading on Friday, hitting $39.21. 1,938,886 shares of the company were exchanged, compared to its average volume of 1,010,659. The stock has a market capitalization of $6.20 billion, a P/E ratio of 217.83, a PEG ratio of 6.66 and a beta of 0.80. 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 12-month low of $28.04 and a 12-month high of $60.71. The firm's 50 day moving average price is $36.44 and its 200-day moving average price is $46.28.

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

Insider Activity at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the general counsel now owns 132 shares in the company, valued at $4,749.36. This represents a 99.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 44.58% of the stock is currently owned by corporate 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.