Vertex, Inc. (NASDAQ:VERX) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Vertex, Inc. (NASDAQ:VERX) by 6.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 78,474 shares of the company’s stock after acquiring an additional 4,756 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Vertex were worth $4,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VERX. Barclays PLC raised its stake in shares of Vertex by 5.4% during the 3rd quarter. Barclays PLC now owns 582,273 shares of the company’s stock worth $22,424,000 after buying an additional 29,700 shares during the last quarter. Ellsworth Advisors LLC raised its stake in shares of Vertex by 3.5% during the 4th quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock worth $922,000 after buying an additional 584 shares during the last quarter. Sheets Smith Wealth Management raised its stake in shares of Vertex by 2.2% during the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock worth $806,000 after buying an additional 324 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Vertex by 11.4% during the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock worth $134,000 after buying an additional 257 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Vertex by 27.1% during the 4th quarter. KBC Group NV now owns 2,668 shares of the company’s stock worth $142,000 after buying an additional 569 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Stock Up 0.9%

VERX opened at $38.51 on Tuesday. 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 $6.09 billion, a price-to-earnings ratio of 213.94, a price-to-earnings-growth ratio of 6.66 and a beta of 0.78. The business has a 50-day moving average of $37.41 and a two-hundred day moving average of $45.98. Vertex, Inc. has a 12 month low of $30.26 and a 12 month high of $60.71.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $177.06 million during the quarter, compared to analysts’ expectations of $176.99 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. On average, research analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Insider Buying and Selling at Vertex

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 transaction of $1,555,343.44. Following the completion of the sale, the general counsel now owns 132 shares in the company, valued at approximately $4,749.36. The trade was a 99.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ryan J. Leib sold 5,755 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total value of $218,690.00. The disclosure for this sale can be found here. Insiders sold 158,398 shares of company stock worth $5,898,979 in the last 90 days. 44.58% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VERX has been the subject of several research reports. Morgan Stanley cut their price target on Vertex from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Vertex in a research report on Thursday, March 20th. Robert W. Baird dropped their price objective on Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. DA Davidson dropped their price objective on Vertex from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus cut Vertex from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $58.00 to $31.00 in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex has an average rating of “Moderate Buy” and a consensus price target of $50.73.

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.