6,129 Shares in Vertex, Inc. (NASDAQ:VERX) Purchased by Fairman Group LLC

Fairman Group LLC purchased a new stake in Vertex, Inc. (NASDAQ:VERX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,129 shares of the company’s stock, valued at approximately $327,000.

Other large investors have also recently added to or reduced their stakes in the company. Brown Capital Management LLC acquired a new position in shares of Vertex in the 3rd quarter worth approximately $20,938,000. Premier Fund Managers Ltd boosted its stake in Vertex by 787.0% in the third quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock worth $19,280,000 after purchasing an additional 465,610 shares in the last quarter. abrdn plc grew its holdings in shares of Vertex by 74.9% during the fourth quarter. abrdn plc now owns 1,029,177 shares of the company’s stock worth $55,035,000 after purchasing an additional 440,832 shares during the last quarter. Geneva Capital Management LLC increased its stake in shares of Vertex by 40.1% in the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after buying an additional 414,945 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Vertex by 36.4% in the third quarter. State Street Corp now owns 1,361,901 shares of the company’s stock valued at $52,447,000 after buying an additional 363,595 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Vertex Trading Down 6.5 %

NASDAQ:VERX opened at $52.36 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 1-year low of $24.17 and a 1-year high of $60.71. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 290.89, a PEG ratio of 8.49 and a beta of 0.78. The business’s 50-day moving average price is $54.88 and its two-hundred day moving average price is $46.25.

Insider Activity at Vertex

In other news, insider Jeffrey Westphal sold 575,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $53.01, for a total transaction of $30,480,750.00. Following the sale, the insider now owns 7,895 shares of the company’s stock, valued at $418,513.95. This trade represents a 98.65 % decrease in their ownership of the stock. 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 3,020 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $55.08, for a total value of $166,341.60. The disclosure for this sale can be found here. Insiders have sold 1,111,932 shares of company stock worth $59,005,301 in the last ninety days. Company insiders own 44.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on VERX. Raymond James reissued a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Stifel Nicolaus increased their price target on shares of Vertex from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Citigroup boosted their price objective on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $50.00 in a research report on Monday, November 4th. Finally, DA Davidson started coverage on Vertex in a research report on Tuesday, December 31st. They set a “buy” rating and a $62.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

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.