Envestnet Asset Management Inc. lessened its holdings in shares of Vertex, Inc. (NASDAQ:VERX – Get Rating) by 6.0% in the second quarter, Holdings Channel.com reports. The fund owned 143,067 shares of the company’s stock after selling 9,106 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Vertex were worth $1,621,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. TimesSquare Capital Management LLC grew its holdings in Vertex by 26.6% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,321,104 shares of the company’s stock worth $20,266,000 after acquiring an additional 277,200 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Vertex by 2.2% in the 1st quarter. William Blair Investment Management LLC now owns 875,051 shares of the company’s stock valued at $13,423,000 after buying an additional 18,908 shares during the period. Palisade Capital Management LLC NJ grew its holdings in shares of Vertex by 47.7% in the 1st quarter. Palisade Capital Management LLC NJ now owns 780,038 shares of the company’s stock valued at $11,966,000 after buying an additional 251,756 shares during the period. Bank of America Corp DE grew its holdings in shares of Vertex by 33.8% in the 1st quarter. Bank of America Corp DE now owns 389,007 shares of the company’s stock valued at $5,968,000 after buying an additional 98,278 shares during the period. Finally, Comerica Bank grew its holdings in shares of Vertex by 2.0% in the 2nd quarter. Comerica Bank now owns 268,698 shares of the company’s stock valued at $2,819,000 after buying an additional 5,225 shares during the period. Institutional investors and hedge funds own 20.97% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on VERX shares. TheStreet raised shares of Vertex from a “d” rating to a “c-” rating in a report on Tuesday, October 25th. Citigroup boosted their price target on shares of Vertex to $16.00 in a report on Thursday, October 27th. BMO Capital Markets boosted their price objective on shares of Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Thursday, November 10th. The Goldman Sachs Group assumed coverage on shares of Vertex in a research report on Friday, October 21st. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Vertex in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.36.
Insiders Place Their Bets
Vertex Trading Down 10.1 %
Shares of NASDAQ:VERX opened at $15.19 on Monday. The company’s 50-day moving average price is $15.60 and its two-hundred day moving average price is $13.14. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.59 and a quick ratio of 0.59. Vertex, Inc. has a one year low of $9.44 and a one year high of $20.97. The stock has a market capitalization of $2.27 billion, a PE ratio of -303.80, a price-to-earnings-growth ratio of 20.58 and a beta of 0.58.
Vertex, Inc provides tax technology solutions for corporations in retail, communication, leasing, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, pre-built integration, and industry-specific solutions.
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