Vertex, Inc. (NASDAQ:VERX) Shares Purchased by Barclays PLC

Barclays PLC lifted its position in Vertex, Inc. (NASDAQ:VERX - Free Report) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 582,273 shares of the company's stock after purchasing an additional 29,700 shares during the quarter. Barclays PLC owned about 0.37% of Vertex worth $22,424,000 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 VERX. Pier Capital LLC grew its position in Vertex by 1.8% in the third quarter. Pier Capital LLC now owns 231,390 shares of the company's stock worth $8,911,000 after acquiring an additional 4,195 shares during the period. State Street Corp grew its holdings in shares of Vertex by 36.4% during the 3rd quarter. State Street Corp now owns 1,361,901 shares of the company's stock worth $52,447,000 after purchasing an additional 363,595 shares during the period. Petrus Trust Company LTA grew its holdings in shares of Vertex by 51.2% during the 3rd quarter. Petrus Trust Company LTA now owns 14,893 shares of the company's stock worth $574,000 after purchasing an additional 5,041 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Vertex during the 3rd quarter worth about $531,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Vertex by 18.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,530 shares of the company's stock valued at $5,373,000 after buying an additional 22,228 shares during the period. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vertex

In related news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $39.42, for a total value of $48,289,500.00. Following the transaction, the insider now directly owns 7,895 shares of the company's stock, valued at $311,220.90. This trade represents a 99.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Richard Stamm sold 2,500 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $53.81, for a total transaction of $134,525.00. Following the completion of the sale, the director now directly owns 15,535 shares of the company's stock, valued at approximately $835,938.35. This trade represents a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,432,563 shares of company stock valued at $205,436,496. Corporate insiders own 44.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VERX shares. BMO Capital Markets lifted their price target on shares of Vertex from $42.00 to $52.00 and gave the company a "market perform" rating in a research report on Thursday, November 7th. Robert W. Baird lifted their target price on shares of Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their target price on Vertex from $41.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price target on Vertex from $42.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC boosted their price objective on Vertex from $45.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Three research 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.30.

Vertex Stock Down 4.4 %

Vertex stock traded down $2.40 during trading on Friday, reaching $52.39. The stock had a trading volume of 1,290,222 shares, compared to its average volume of 719,521. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $57.74. The business has a 50 day moving average price of $48.17 and a 200 day moving average price of $40.59. 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 $8.17 billion, a PE ratio of 291.06, a P/E/G ratio of 9.83 and a beta of 0.77.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. The company's revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, analysts predict that Vertex, Inc. will post 0.38 EPS for the current 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.