Jump Financial LLC Boosts Stock Position in Vertex, Inc. (NASDAQ:VERX)

Jump Financial LLC boosted its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 276.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,700 shares of the company’s stock after purchasing an additional 17,405 shares during the period. Jump Financial LLC’s holdings in Vertex were worth $1,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VERX. Vanguard Group Inc. increased its position in shares of Vertex by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company’s stock valued at $365,927,000 after buying an additional 137,666 shares during the period. Neuberger Berman Group LLC grew its holdings in shares of Vertex by 1.5% during the 4th quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company’s stock worth $188,198,000 after acquiring an additional 53,829 shares during the period. FMR LLC raised its position in shares of Vertex by 25.4% in the 4th quarter. FMR LLC now owns 2,868,438 shares of the company’s stock worth $153,031,000 after acquiring an additional 580,664 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Vertex by 26.0% during the fourth quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company’s stock valued at $113,587,000 after purchasing an additional 439,054 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Vertex by 342.5% during the fourth quarter. Invesco Ltd. now owns 1,513,660 shares of the company’s stock valued at $80,754,000 after purchasing an additional 1,171,576 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Insider Buying and Selling

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the completion of the sale, the insider now directly owns 1,229,257 shares in the company, valued at $69,428,435.36. The trade was a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the stock in a transaction that occurred on 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 transaction, the general counsel now owns 132 shares in the company, valued at $4,749.36. This trade represents a 99.70 % decrease in their position. The disclosure for this sale can be found here. 44.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on VERX shares. The Goldman Sachs Group lowered their price objective on Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Stifel Nicolaus lowered shares of 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 note on Friday, February 28th. Raymond James reaffirmed a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. Morgan Stanley dropped their price target on Vertex from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Vertex in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.91.

Vertex Stock Up 0.8 %

VERX stock opened at $39.25 on Monday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 218.06, a P/E/G ratio of 6.66 and a beta of 0.80. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. Vertex, Inc. has a 1-year low of $27.22 and a 1-year high of $60.71. The business has a fifty day moving average price of $37.71 and a 200-day moving average price of $46.42.

Vertex (NASDAQ:VERX) last issued its earnings results on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The business had revenue of $178.46 million during the quarter, compared to analysts’ expectations of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Equities analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Vertex Company Profile

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.