Precision Wealth Strategies LLC Makes New Investment in Vertex, Inc. (NASDAQ:VERX)

Precision Wealth Strategies LLC acquired a new stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 10,045 shares of the company's stock, valued at approximately $536,000.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Vertex by 406.9% during the 3rd quarter. Victory Capital Management Inc. now owns 34,386 shares of the company's stock valued at $1,324,000 after buying an additional 27,602 shares in the last quarter. DRW Securities LLC bought a new position in shares of Vertex during the 3rd quarter valued at approximately $840,000. Charles Schwab Investment Management Inc. boosted its position in shares of Vertex by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 432,068 shares of the company's stock valued at $16,639,000 after acquiring an additional 23,086 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Vertex by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,275,283 shares of the company's stock valued at $49,121,000 after acquiring an additional 37,592 shares during the last quarter. Finally, Brown Capital Management LLC bought a new position in shares of Vertex during the 3rd quarter valued at approximately $20,938,000. 70.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC raised their price target on Vertex from $45.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus raised their price target on Vertex from $52.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Morgan Stanley raised their price target on Vertex from $50.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. DA Davidson assumed coverage on Vertex in a research report on Tuesday, December 31st. They issued a "buy" rating and a $62.00 price target for the company. Finally, BMO Capital Markets raised their price target on Vertex from $42.00 to $52.00 and gave the stock a "market perform" rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Vertex presently has an average rating of "Moderate Buy" and a consensus price target of $55.36.

Vertex Stock Up 1.9 %

VERX traded up $1.11 on Wednesday, hitting $58.33. The company had a trading volume of 198,912 shares, compared to its average volume of 789,457. The stock has a fifty day moving average price of $54.74 and a 200-day moving average price of $45.62. Vertex, Inc. has a 12-month low of $24.17 and a 12-month high of $60.00. 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 stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 323.97, a P/E/G ratio of 8.46 and a beta of 0.78.

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

Insiders Place Their Bets

In other Vertex news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total value of $166,341.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Destefano sold 159,107 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $49.61, for a total value of $7,893,298.27. Following the completion of the sale, the chief executive officer now owns 332,290 shares of the company's stock, valued at $16,484,906.90. This trade represents a 32.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,632,062 shares of company stock valued at $182,311,362. 44.58% of the stock is currently owned by corporate insiders.

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.