Vertex, Inc. (NASDAQ:VERX) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA reduced its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 36.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 613,563 shares of the company's stock after selling 348,127 shares during the quarter. Banque Pictet & Cie SA owned approximately 0.39% of Vertex worth $32,734,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock valued at $37,000 after purchasing an additional 540 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex during the 4th quarter worth approximately $50,000. Blue Trust Inc. boosted its holdings in shares of Vertex by 191.1% in the 3rd quarter. Blue Trust Inc. now owns 2,259 shares of the company's stock valued at $81,000 after buying an additional 1,483 shares in the last quarter. KBC Group NV grew its position in shares of Vertex by 46.1% in the 3rd quarter. KBC Group NV now owns 2,099 shares of the company's stock valued at $81,000 after buying an additional 662 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of Vertex by 344.5% in the 3rd quarter. Quest Partners LLC now owns 4,529 shares of the company's stock valued at $174,000 after buying an additional 3,510 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Stock Performance

NASDAQ:VERX traded up $1.11 during midday trading on Tuesday, reaching $47.62. The stock had a trading volume of 1,118,120 shares, compared to its average volume of 934,652. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a market cap of $7.43 billion, a P/E ratio of 264.56, a P/E/G ratio of 8.49 and a beta of 0.78. The firm has a fifty day simple moving average of $54.19 and a two-hundred day simple moving average of $46.48. Vertex, Inc. has a 12-month low of $24.17 and a 12-month high of $60.71.

Insider Activity

In other Vertex news, Director John Richard Stamm sold 2,500 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $53.81, for a total value of $134,525.00. Following the completion of the transaction, the director now owns 15,535 shares in the company, valued at approximately $835,938.35. This represents a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $52.16, for a total value of $2,136,786.56. Following the completion of the sale, the insider now directly owns 1,389,134 shares of the company's stock, valued at approximately $72,457,229.44. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 930,550 shares of company stock valued at $50,008,277 over the last quarter. Corporate insiders own 44.58% of the company's stock.

Analysts Set New Price Targets

VERX has been the subject of several research analyst reports. BMO Capital Markets upped their price objective on shares of Vertex from $42.00 to $52.00 and gave the company a "market perform" rating in a research note on Thursday, November 7th. JMP Securities reissued a "market outperform" rating and issued a $61.00 target price on shares of Vertex in a research report on Monday, December 9th. Stifel Nicolaus raised their price target on Vertex from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Robert W. Baird boosted their price objective on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Morgan Stanley raised their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.36.

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.