Whittier Trust Co. of Nevada Inc. Grows Position in Vertex, Inc. (NASDAQ:VERX)

Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 57.4% in the 4th quarter, Holdings Channel reports. The firm owned 126,102 shares of the company’s stock after acquiring an additional 45,987 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Vertex were worth $6,726,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its stake in Vertex by 2.5% in the 3rd quarter. FMR LLC now owns 2,287,774 shares of the company’s stock worth $88,102,000 after buying an additional 54,985 shares in the last quarter. Franklin Resources Inc. grew its position in Vertex by 17.6% in the third quarter. Franklin Resources Inc. now owns 1,690,045 shares of the company’s stock worth $69,444,000 after acquiring an additional 253,263 shares in the last quarter. State Street Corp increased its stake in Vertex by 36.4% in the third quarter. State Street Corp now owns 1,361,901 shares of the company’s stock valued at $52,447,000 after acquiring an additional 363,595 shares during the last quarter. Geode Capital Management LLC raised its position in Vertex by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company’s stock valued at $49,121,000 after purchasing an additional 37,592 shares in the last quarter. Finally, abrdn plc lifted its stake in Vertex by 74.9% during the fourth quarter. abrdn plc now owns 1,029,177 shares of the company’s stock worth $55,035,000 after purchasing an additional 440,832 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors.

Vertex Trading Down 1.2 %

VERX opened at $35.71 on Friday. Vertex, Inc. has a one year low of $27.22 and a one year high of $60.71. 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 business has a 50 day simple moving average of $46.33 and a two-hundred day simple moving average of $46.38. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 198.39, a PEG ratio of 6.66 and a beta of 0.87.

Vertex (NASDAQ:VERX) last announced 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 business had revenue of $178.46 million for the quarter, compared to the consensus estimate of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on VERX shares. Morgan Stanley raised their price objective on Vertex from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday. Jefferies Financial Group decreased their price target on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group cut their price objective on shares of Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Raymond James reiterated a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Finally, Citigroup upped 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. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Vertex has an average rating of “Moderate Buy” and a consensus price target of $49.82.

Insider Transactions at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the transaction, the insider now owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This represents a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were 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 of the company’s stock, valued at $4,749.36. This represents a 99.70 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 44.58% of the company’s stock.

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.