Bessemer Group Inc. Lowers Stock Holdings in Vertex, Inc. $VERX

Bessemer Group Inc. reduced its position in shares of Vertex, Inc. (NASDAQ:VERX) by 16.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 580,802 shares of the company’s stock after selling 113,900 shares during the period. Bessemer Group Inc.’s holdings in Vertex were worth $20,522,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in Vertex by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock worth $52,000 after buying an additional 347 shares in the last quarter. Blue Trust Inc. increased its stake in Vertex by 44.4% during the 2nd quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after buying an additional 512 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after buying an additional 395 shares in the last quarter. US Bancorp DE increased its stake in Vertex by 88.1% during the 1st quarter. US Bancorp DE now owns 2,024 shares of the company’s stock worth $71,000 after buying an additional 948 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Vertex during the 1st quarter worth approximately $97,000. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Stock Performance

Vertex stock opened at $25.11 on Wednesday. The firm has a 50 day simple moving average of $25.04 and a 200-day simple moving average of $32.15. Vertex, Inc. has a 1-year low of $23.13 and a 1-year high of $60.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -76.09, a price-to-earnings-growth ratio of 5.20 and a beta of 0.63.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Vertex had a negative net margin of 7.09% and a positive return on equity of 27.16%. The business had revenue of $184.56 million during the quarter, compared to analysts’ expectations of $184.60 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on VERX. Bank of America cut their price objective on Vertex from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. JMP Securities set a $50.00 target price on shares of Vertex and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. The Goldman Sachs Group set a $43.00 target price on shares of Vertex and gave the stock a “buy” rating in a research note on Thursday, August 7th. BMO Capital Markets reissued a “market perform” rating on shares of Vertex in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Vertex in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Vertex has an average rating of “Moderate Buy” and an average price target of $41.00.

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.