Bank of America Corp DE Has $29.43 Million Holdings in Vertex, Inc. (NASDAQ:VERX)

Bank of America Corp DE lifted its stake in Vertex, Inc. (NASDAQ:VERX) by 47.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 551,620 shares of the company’s stock after buying an additional 178,367 shares during the period. Bank of America Corp DE’s holdings in Vertex were worth $29,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VERX. Steward Partners Investment Advisory LLC acquired a new position in shares of Vertex in the 4th quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Vertex in the 4th quarter worth approximately $40,000. Plato Investment Management Ltd acquired a new position in shares of Vertex in the 4th quarter worth approximately $41,000. Assetmark Inc. acquired a new position in shares of Vertex in the 4th quarter worth approximately $79,000. Finally, Blue Trust Inc. raised its holdings in shares of Vertex by 11.4% in 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 in the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex

In other Vertex news, CAO Ryan J. Leib sold 5,755 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total value of $218,690.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Destefano sold 109,415 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $37.70, for a total value of $4,124,945.50. Following the completion of the transaction, the chief executive officer now owns 1,066,587 shares in the company, valued at $40,210,329.90. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,398 shares of company stock worth $5,898,979. Insiders own 44.58% of the company’s stock.

Vertex Stock Up 1.7%

Shares of VERX opened at $38.15 on Friday. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 211.94, a PEG ratio of 6.66 and a beta of 0.78. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The business’s fifty day moving average price is $37.32 and its two-hundred day moving average price is $45.98. Vertex, Inc. has a 52 week low of $30.26 and a 52 week high of $60.71.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $177.06 million for the quarter, compared to analyst estimates of $176.99 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. On average, analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analysts Set New Price Targets

VERX has been the subject of a number of recent research reports. Jefferies Financial Group dropped their target price on Vertex from $62.00 to $48.00 and set a “buy” rating for the company in a report on Friday, February 28th. Stifel Nicolaus cut Vertex from a “buy” rating to a “hold” rating and dropped their target price for the stock from $58.00 to $31.00 in a report on Friday, February 28th. BNP Paribas assumed coverage on Vertex in a report on Tuesday, April 22nd. They set an “outperform” rating and a $54.00 price target for the company. DA Davidson dropped their price target on Vertex from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price target on Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Vertex presently has a consensus rating of “Moderate Buy” and an average target price 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.