Vertex, Inc. (NASDAQ:VERX) Shares Bought by Geneva Capital Management LLC

Geneva Capital Management LLC boosted its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 40.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,450,599 shares of the company's stock after buying an additional 414,945 shares during the quarter. Geneva Capital Management LLC owned 0.93% of Vertex worth $55,863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VERX. Blue Trust Inc. purchased a new position in Vertex during the second quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in shares of Vertex in the 2nd quarter valued at $37,000. Canada Pension Plan Investment Board purchased a new stake in Vertex during the second quarter worth $40,000. Amalgamated Bank acquired a new stake in Vertex during the second quarter valued at $68,000. Finally, Sandia Investment Management LP purchased a new position in Vertex in the first quarter valued at $159,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.

Vertex Trading Up 3.2 %

Shares of NASDAQ VERX traded up $1.59 during midday trading on Wednesday, reaching $51.34. 479,793 shares of the stock were exchanged, compared to its average volume of 783,746. The stock has a market capitalization of $7.98 billion, a P/E ratio of 282.72, a PEG ratio of 9.34 and a beta of 0.67. Vertex, Inc. has a twelve month low of $23.31 and a twelve month high of $52.93. 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 has a 50 day simple moving average of $40.62 and a 200 day simple moving average of $37.00.

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

Insider Transactions at Vertex

In related news, CFO John R. Schwab sold 25,000 shares of Vertex stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the sale, the chief financial officer now owns 53,104 shares in the company, valued at approximately $1,901,654.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Vertex news, Director John Richard Stamm sold 16,000 shares of the business's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now owns 21,635 shares in the company, valued at $777,778.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO John R. Schwab sold 25,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the sale, the chief financial officer now owns 53,104 shares in the company, valued at approximately $1,901,654.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,664,374 shares of company stock worth $65,829,150. 44.58% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Robert W. Baird lifted their price target on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Jefferies Financial Group raised 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 research note on Monday, November 4th. BMO Capital Markets boosted their price target on shares of Vertex from $42.00 to $52.00 and gave the stock a "market perform" rating in a report on Thursday, November 7th. Needham & Company LLC increased their price objective on shares of Vertex from $45.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Baird R W raised shares of Vertex to a "strong-buy" rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.