Fairman Group LLC Purchases Shares of 6,129 Vertex, Inc. (NASDAQ:VERX)

Fairman Group LLC purchased a new position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,129 shares of the company's stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its holdings in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock valued at $37,000 after acquiring an additional 540 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new position in shares of Vertex in the fourth quarter valued at approximately $50,000. Blue Trust Inc. increased its stake in 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 during the period. KBC Group NV lifted its position in Vertex by 46.1% in the third quarter. KBC Group NV now owns 2,099 shares of the company's stock valued at $81,000 after purchasing an additional 662 shares during the period. Finally, Quest Partners LLC lifted its holdings 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 period. Institutional investors and hedge funds own 70.32% of the company's stock.

Vertex Trading Down 3.5 %

NASDAQ:VERX traded down $1.82 on Wednesday, hitting $50.54. 1,792,947 shares of the stock were exchanged, compared to its average volume of 842,179. Vertex, Inc. has a 52 week low of $24.17 and a 52 week high of $60.71. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 280.78, a P/E/G ratio of 8.49 and a beta of 0.78. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The company's 50-day moving average price is $54.88 and its 200 day moving average price is $46.25.

Insider Buying and Selling at Vertex

In other news, major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $52.16, for a total transaction of $2,136,786.56. Following the completion of the sale, the insider now directly owns 1,389,134 shares in the company, valued at approximately $72,457,229.44. This represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Destefano sold 159,107 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $49.61, for a total transaction of $7,893,298.27. Following the completion of the transaction, the chief executive officer now directly owns 332,290 shares of the company's stock, valued at $16,484,906.90. This trade represents a 32.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,111,932 shares of company stock valued at $59,005,301. 44.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. BMO Capital Markets upped their target price on shares of Vertex from $42.00 to $52.00 and gave the stock a "market perform" rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of Vertex from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Raymond James reiterated a "market perform" rating on shares of Vertex in a research report on Friday, January 3rd. Needham & Company LLC boosted their price objective on shares of Vertex from $45.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Robert W. Baird raised their price target on shares of Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.36.

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.