Charles Schwab Investment Management Inc. Acquires 23,086 Shares of Vertex, Inc. (NASDAQ:VERX)

Charles Schwab Investment Management Inc. raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 432,068 shares of the company's stock after acquiring an additional 23,086 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.28% of Vertex worth $16,639,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VERX. Banque Pictet & Cie SA boosted its holdings in Vertex by 551.9% during the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company's stock worth $34,231,000 after purchasing an additional 803,881 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Vertex during the 2nd quarter worth about $22,173,000. Brown Capital Management LLC acquired a new position in shares of Vertex during the 3rd quarter worth about $20,938,000. Premier Fund Managers Ltd grew its holdings in shares of 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 acquiring an additional 465,610 shares in the last quarter. Finally, Geneva Capital Management LLC increased its position 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 acquiring an additional 414,945 shares during the last quarter. 59.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Vertex news, CEO David Destefano sold 25,607 shares of Vertex stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $55.05, for a total value of $1,409,665.35. Following the completion of the transaction, the chief executive officer now directly owns 221,932 shares of the company's stock, valued at $12,217,356.60. The trade was a 10.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Bryan T.R. Rowland sold 3,020 shares of the stock in a transaction on Tuesday, November 26th. The stock was 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. Over the last three months, insiders have sold 4,202,949 shares of company stock valued at $192,797,340. 44.58% of the stock is owned by company insiders.

Vertex Stock Performance

VERX stock traded up $0.32 during mid-day trading on Friday, hitting $56.31. 627,277 shares of the company were exchanged, compared to its average volume of 912,492. Vertex, Inc. has a 1-year low of $23.31 and a 1-year high of $57.74. The stock has a market capitalization of $8.78 billion, a PE ratio of 312.83, a price-to-earnings-growth ratio of 10.57 and a beta of 0.77. The business has a 50 day simple moving average of $46.76 and a 200-day simple moving average of $39.85. 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 (NASDAQ:VERX - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The firm's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. On average, equities analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VERX shares. Morgan Stanley boosted their price target on Vertex from $50.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Robert W. Baird upped their price target on shares of Vertex from $43.00 to $57.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Stifel Nicolaus increased their price target on shares of Vertex from $41.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Vertex from $42.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, JMP Securities upped their target price on shares of Vertex from $47.00 to $61.00 and gave the company a "market outperform" 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 issued a strong buy rating to the company's stock. According to MarketBeat, Vertex presently has an average rating of "Moderate Buy" and a consensus target price of $52.30.

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.