Victory Capital Management Inc. Has $2.32 Million Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Victory Capital Management Inc. boosted its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 26.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 43,474 shares of the company’s stock after acquiring an additional 9,088 shares during the period. Victory Capital Management Inc.’s holdings in Vertex were worth $2,319,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fairman Group LLC acquired a new stake in Vertex during the 4th quarter worth $327,000. Empowered Funds LLC acquired a new stake in Vertex during the 4th quarter worth $3,363,000. DRW Securities LLC acquired a new stake in Vertex during the 3rd quarter worth $840,000. Triasima Portfolio Management inc. acquired a new stake in Vertex during the 4th quarter worth $3,135,000. Finally, Principal Financial Group Inc. grew its holdings in Vertex by 1,100.4% during the 4th quarter. Principal Financial Group Inc. now owns 572,245 shares of the company’s stock worth $30,530,000 after acquiring an additional 524,572 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Trading Up 2.8 %

VERX opened at $34.54 on Tuesday. The stock has a market capitalization of $5.46 billion, a P/E ratio of 191.89, a P/E/G ratio of 6.66 and a beta of 0.87. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. The firm’s fifty day simple moving average is $47.68 and its 200 day simple moving average is $46.57. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (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 business had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. As a group, research analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction 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 sale, the insider now directly owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. The trade was a 4.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 44.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on VERX. Raymond James reaffirmed a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Jefferies Financial Group reduced their price target on shares of 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 cut shares of Vertex from a “buy” rating to a “hold” rating and reduced their price target for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. The Goldman Sachs Group reduced their price target on shares of Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, DA Davidson reduced their price target on shares of Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned 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 $50.00.

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.