Vertex, Inc. (NASDAQ:VERX) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 22.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 509,517 shares of the company's stock after buying an additional 92,137 shares during the period. New York State Common Retirement Fund owned about 0.33% of Vertex worth $19,621,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on VERX shares. Baird R W raised shares of Vertex to a "strong-buy" rating in a research report on Tuesday, July 23rd. Robert W. Baird assumed coverage on Vertex in a report on Tuesday, July 23rd. They issued an "outperform" rating and a $43.00 price target for the company. JMP Securities raised their price objective on Vertex from $42.00 to $47.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group raised Vertex from a "hold" rating to a "buy" rating and upped their target price for the company from $35.00 to $50.00 in a research report on Monday. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.80.

Vertex Stock Performance

VERX stock traded up $1.48 during trading on Tuesday, hitting $43.71. 1,053,461 shares of the company's stock traded hands, compared to its average volume of 759,682. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 351.92, a price-to-earnings-growth ratio of 12.05 and a beta of 0.67. Vertex, Inc. has a 52 week low of $21.92 and a 52 week high of $43.75. The stock has a fifty day moving average price of $39.26 and a two-hundred day moving average price of $36.14. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43.

Vertex (NASDAQ:VERX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The firm had revenue of $161.10 million for the quarter, compared to analyst estimates of $160.66 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. Vertex's quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities analysts anticipate that Vertex, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $37.27, for a total value of $5,922,203.00. Following the sale, the insider now directly owns 1,430,100 shares of the company's stock, valued at $53,299,827. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the completion of the transaction, the insider now directly owns 932,706 shares in the company, valued at approximately $38,026,423.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $37.27, for a total value of $5,922,203.00. Following the completion of the sale, the insider now owns 1,430,100 shares in the company, valued at approximately $53,299,827. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,629,244 shares of company stock worth $64,039,589 in the last 90 days. 44.58% of the stock is currently owned by company insiders.

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.