Vertex, Inc. (NASDAQ:VERX) Shares Sold by Banco Santander S.A.

Banco Santander S.A. trimmed its position in Vertex, Inc. (NASDAQ:VERX) by 25.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 232,000 shares of the company’s stock after selling 78,000 shares during the period. Banco Santander S.A. owned 0.15% of Vertex worth $12,377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Capital Management LLC bought a new stake in Vertex in the third quarter valued at $20,938,000. Principal Financial Group Inc. increased its holdings in shares of Vertex by 1,100.4% in the 4th quarter. Principal Financial Group Inc. now owns 572,245 shares of the company’s stock worth $30,530,000 after acquiring an additional 524,572 shares during the period. Premier Fund Managers Ltd lifted its position in Vertex by 787.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock valued at $19,280,000 after purchasing an additional 465,610 shares during the last quarter. abrdn plc boosted its stake in Vertex by 74.9% during the 4th quarter. abrdn plc now owns 1,029,177 shares of the company’s stock valued at $55,035,000 after purchasing an additional 440,832 shares during the period. Finally, Geneva Capital Management LLC grew its position in Vertex by 40.1% in the 3rd quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock worth $55,863,000 after purchasing an additional 414,945 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Insider Activity at Vertex

In related news, CEO David Destefano sold 216,268 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $55.04, for a total transaction of $11,903,390.72. Following the completion of the sale, the chief executive officer now owns 293,345 shares in the company, valued at approximately $16,145,708.80. This trade represents a 42.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $55.13, for a total transaction of $735,764.98. Following the transaction, the insider now owns 1,344,754 shares of the company’s stock, valued at approximately $74,136,288.02. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 858,457 shares of company stock valued at $46,160,958. 44.58% of the stock is owned by corporate insiders.

Vertex Stock Down 4.6 %

Shares of NASDAQ VERX opened at $32.50 on Friday. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 180.56, a PEG ratio of 6.66 and a beta of 0.87. The business has a 50-day moving average of $50.44 and a 200-day moving average of $46.63.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $61.00 price objective on shares of Vertex in a report on Monday, December 9th. Morgan Stanley upped their price target on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Jefferies Financial Group lowered their price objective on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group cut their target price on Vertex from $64.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, DA Davidson lowered their price target on Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vertex presently has an average rating of “Moderate Buy” and an average target price of $50.00.

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.