Vertex, Inc. (NASDAQ:VERX) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Vertex, Inc. (NASDAQ:VERXFree Report) by 131.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,567 shares of the company’s stock after buying an additional 50,239 shares during the period. Principal Financial Group Inc.’s holdings in Vertex were worth $2,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of VERX. Pinebridge Investments L.P. bought a new stake in shares of Vertex in the 2nd quarter worth $27,000. Ensign Peak Advisors Inc bought a new stake in shares of Vertex in the 1st quarter worth $33,000. Wells Fargo & Company MN raised its stake in shares of Vertex by 124.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,024 shares of the company’s stock worth $39,000 after buying an additional 1,121 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Vertex in the 4th quarter worth $41,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Vertex in the 4th quarter worth $46,000. Institutional investors own 28.31% of the company’s stock.

Vertex Stock Performance

Shares of VERX stock opened at $26.58 on Friday. Vertex, Inc. has a 1-year low of $13.80 and a 1-year high of $30.00. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -115.57, a P/E/G ratio of 6.67 and a beta of 0.50. The stock’s fifty day simple moving average is $26.15 and its 200-day simple moving average is $24.02.

Vertex (NASDAQ:VERXGet Free Report) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Vertex had a positive return on equity of 13.30% and a negative net margin of 6.15%. The business had revenue of $145.03 million for the quarter, compared to the consensus estimate of $142.05 million. On average, sell-side analysts predict that Vertex, Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Item Second Irr. Trust Fbo Jac sold 4,682 shares of Vertex stock in a transaction on Monday, November 13th. The stock was sold at an average price of $27.35, for a total transaction of $128,052.70. Following the transaction, the insider now owns 2,184,318 shares in the company, valued at $59,741,097.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Vertex news, major shareholder Jeffery Westphal sold 1,899,025 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.06, for a total value of $49,488,591.50. Following the transaction, the insider now owns 7,895 shares in the company, valued at $205,743.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Item Second Irr. Trust Fbo Jac sold 4,682 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $27.35, for a total value of $128,052.70. Following the completion of the transaction, the insider now owns 2,184,318 shares in the company, valued at approximately $59,741,097.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,276,497 shares of company stock worth $60,074,108. 45.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VERX shares. Citigroup dropped their price objective on Vertex from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, January 12th. The Goldman Sachs Group boosted their target price on Vertex from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Morgan Stanley boosted their target price on Vertex from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Raymond James boosted their target price on Vertex from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Finally, BMO Capital Markets boosted their target price on Vertex from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.78.

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About Vertex

(Free Report)

Vertex, Inc provides tax technology solutions for retail, communication, leasing, retail trade, wholesale trade, technology, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, analytics and insights, pre-built integration, and industry-specific solutions.

See Also

Want to see what other hedge funds are holding VERX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex, Inc. (NASDAQ:VERXFree Report).

Institutional Ownership by Quarter for Vertex (NASDAQ:VERX)

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