Vertex, Inc. (NASDAQ:VERX) Position Boosted by Arizona State Retirement System

Arizona State Retirement System grew its holdings in shares of Vertex, Inc. (NASDAQ:VERX – Get Rating) by 18.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,666 shares of the company’s stock after purchasing an additional 2,094 shares during the period. Arizona State Retirement System’s holdings in Vertex were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in shares of Vertex during the 3rd quarter valued at about $27,000. Great West Life Assurance Co. Can acquired a new position in shares of Vertex in the third quarter worth about $27,000. Ensign Peak Advisors Inc acquired a new position in shares of Vertex in the first quarter worth about $33,000. Tower Research Capital LLC TRC boosted its holdings in shares of Vertex by 100.4% in the third quarter. Tower Research Capital LLC TRC now owns 3,571 shares of the company’s stock worth $49,000 after buying an additional 1,789 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of Vertex by 4,560.0% in the second quarter. Captrust Financial Advisors now owns 4,660 shares of the company’s stock worth $53,000 after buying an additional 4,560 shares during the period. Institutional investors own 21.53% of the company’s stock.

Vertex Stock Performance

Vertex stock opened at $21.51 on Thursday. The stock has a 50-day simple moving average of $20.74 and a 200 day simple moving average of $17.08. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.21. Vertex, Inc. has a 12-month low of $9.44 and a 12-month high of $22.98. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -102.42, a P/E/G ratio of 7.70 and a beta of 0.60.

Vertex (NASDAQ:VERX – Get Rating) last announced its quarterly earnings data on Wednesday, March 8th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $131.13 million during the quarter, compared to analysts’ expectations of $125.36 million. Vertex had a positive return on equity of 12.20% and a negative net margin of 5.91%. On average, research analysts anticipate that Vertex, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on VERX. Jefferies Financial Group raised their target price on shares of Vertex from $18.00 to $20.00 in a report on Wednesday, May 10th. BMO Capital Markets raised their target price on shares of Vertex from $21.00 to $23.00 in a report on Thursday, May 11th. Bank of America raised shares of Vertex from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $16.00 to $20.00 in a research report on Wednesday, March 8th. The Goldman Sachs Group increased their price target on shares of Vertex from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, March 9th. Finally, JMP Securities reissued a “market outperform” rating and issued a $28.00 price target on shares of Vertex in a research report on Thursday, March 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.33.

Insiders Place Their Bets

In other news, CAO Lisa Butler sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $19.56, for a total transaction of $195,600.00. Following the sale, the chief accounting officer now owns 250 shares in the company, valued at approximately $4,890. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Jeffery Westphal sold 50,000 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $15.66, for a total value of $783,000.00. Following the sale, the insider now owns 8,916,693 shares in the company, valued at approximately $139,635,412.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lisa Butler sold 10,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $19.56, for a total value of $195,600.00. Following the completion of the sale, the chief accounting officer now owns 250 shares in the company, valued at approximately $4,890. The disclosure for this sale can be found here. Insiders sold a total of 1,947,785 shares of company stock valued at $35,002,017 in the last quarter. 46.12% of the stock is currently owned by insiders.

About Vertex

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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.