Intech Investment Management LLC Buys Shares of 11,643 Vertex, Inc. (NASDAQ:VERX)

Intech Investment Management LLC purchased a new position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,643 shares of the company's stock, valued at approximately $448,000.

A number of other institutional investors have also modified their holdings of VERX. California State Teachers Retirement System increased its stake in Vertex by 6.3% during the 1st quarter. California State Teachers Retirement System now owns 46,115 shares of the company's stock worth $1,465,000 after buying an additional 2,719 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Vertex in the first quarter valued at $239,000. Bank Pictet & Cie Asia Ltd. acquired a new position in Vertex during the 2nd quarter worth $389,000. PICTET BANK & TRUST Ltd acquired a new stake in Vertex in the 2nd quarter valued at about $278,000. Finally, Ellsworth Advisors LLC boosted its stake in shares of Vertex by 6.6% in the 2nd quarter. Ellsworth Advisors LLC now owns 16,010 shares of the company's stock valued at $577,000 after buying an additional 992 shares during the period. 59.10% of the stock is owned by institutional investors and hedge funds.

Vertex Stock Performance

VERX stock traded up $2.28 during trading on Tuesday, hitting $56.92. The company had a trading volume of 1,223,955 shares, compared to its average volume of 787,676. The firm has a 50-day moving average price of $45.20 and a 200-day moving average price of $39.19. Vertex, Inc. has a 1-year low of $23.31 and a 1-year high of $57.74. The firm has a market cap of $8.88 billion, a PE ratio of 313.33, a price-to-earnings-growth ratio of 10.26 and a beta of 0.77. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm 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 company's revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. On average, analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

VERX has been the subject of several analyst reports. JMP Securities boosted their price target on shares of Vertex from $47.00 to $61.00 and gave the stock a "market outperform" rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of Vertex from $41.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Robert W. Baird increased their target price on shares of Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Jefferies Financial Group raised shares of Vertex from a "hold" rating to a "buy" rating and boosted their price target for the company from $35.00 to $50.00 in a research report on Monday, November 4th. Finally, Needham & Company LLC raised their price objective on Vertex from $45.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex currently has a consensus rating of "Moderate Buy" and an average price target of $52.30.

Insider Buying and Selling

In other news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 7,895 shares in the company, valued at $311,220.90. This trade represents a 99.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Destefano sold 25,607 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 221,932 shares in the company, valued at approximately $12,217,356.60. This represents a 10.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,202,949 shares of company stock valued at $192,797,340 over the last ninety days. Corporate insiders own 44.58% of the company's stock.

Vertex 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.