Premier Fund Managers Ltd Sells 4,986 Shares of Vertex, Inc. (NASDAQ:VERX)

Premier Fund Managers Ltd lessened its position in Vertex, Inc. (NASDAQ:VERX) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 519,789 shares of the company’s stock after selling 4,986 shares during the period. Premier Fund Managers Ltd owned about 0.33% of Vertex worth $27,598,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in VERX. Pictet Asset Management Holding SA boosted its holdings in shares of Vertex by 41.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 9,830 shares of the company’s stock worth $524,000 after acquiring an additional 2,868 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in Vertex in the fourth quarter worth $40,000. EntryPoint Capital LLC bought a new stake in shares of Vertex during the fourth quarter worth $201,000. Sheets Smith Investment Management acquired a new stake in shares of Vertex in the fourth quarter valued at $1,884,000. Finally, Vanguard Group Inc. increased its stake in shares of Vertex by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company’s stock valued at $365,927,000 after buying an additional 137,666 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Insider Activity at Vertex

In other Vertex news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business’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 transaction of $1,555,343.44. Following the transaction, the general counsel now owns 132 shares of the company’s stock, valued at $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the sale, the insider now owns 1,229,257 shares in the company, valued at $69,428,435.36. This represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. 44.58% of the stock is owned by insiders.

Vertex Stock Up 0.6 %

VERX stock opened at $35.86 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $5.67 billion, a P/E ratio of 199.22, a P/E/G ratio of 6.66 and a beta of 0.87. Vertex, Inc. has a fifty-two week low of $27.22 and a fifty-two week high of $60.71. The business has a 50-day moving average of $44.84 and a 200-day moving average of $46.37.

Vertex (NASDAQ:VERX) last released its earnings results on Thursday, February 27th. The company reported $0.10 EPS 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 the consensus estimate of $176.90 million. On average, sell-side analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VERX shares. Raymond James reissued a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. Jefferies Financial Group decreased their target price on Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Citigroup increased their price target on shares of Vertex from $46.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Morgan Stanley boosted their price objective on shares of Vertex from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Finally, 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 report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Vertex presently has an average rating of “Moderate Buy” and an average target price of $49.82.

Vertex 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.