18,103 Shares in Vertex, Inc. (NASDAQ:VERX) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 18,103 shares of the company's stock, valued at approximately $697,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. bought a new stake in shares of Vertex in the second quarter worth $28,000. Quest Partners LLC acquired a new stake in Vertex in the 2nd quarter valued at $37,000. Advisors Asset Management Inc. lifted its position in Vertex by 126.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock worth $37,000 after buying an additional 540 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Vertex during the 2nd quarter worth about $40,000. Finally, Amalgamated Bank bought a new position in shares of Vertex in the 2nd quarter valued at about $68,000. Institutional investors and hedge funds own 59.10% of the company's stock.

Insider Buying and Selling at Vertex

In other news, CEO David Destefano sold 159,107 shares of Vertex stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $49.61, for a total value of $7,893,298.27. Following the transaction, the chief executive officer now owns 332,290 shares in the company, valued at approximately $16,484,906.90. This trade represents a 32.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Richard Stamm sold 2,500 shares of the company's 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 sale, the director now owns 15,535 shares of the company's stock, valued at approximately $835,938.35. This represents a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,202,949 shares of company stock valued at $192,797,340 in the last three months. Corporate insiders own 44.58% of the company's stock.

Vertex Stock Performance

NASDAQ:VERX remained flat at $54.25 during mid-day trading on Friday. The company had a trading volume of 322,976 shares, compared to its average volume of 786,719. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock's fifty day moving average price is $44.54 and its 200-day moving average price is $38.77. Vertex, Inc. has a 1-year low of $23.31 and a 1-year high of $55.52. The stock has a market cap of $8.46 billion, a PE ratio of 301.39, a price-to-earnings-growth ratio of 10.18 and a beta of 0.67.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group upgraded Vertex from a "hold" rating to a "buy" rating and upped their target price for the stock from $35.00 to $50.00 in a report on Monday, November 4th. Needham & Company LLC upped their price objective on Vertex from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Robert W. Baird raised their target price on shares of Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. JMP Securities upped their price target on shares of Vertex from $47.00 to $61.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 7th. Finally, Morgan Stanley lifted their price objective on shares of Vertex from $50.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.30.

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.