Vertex, Inc. (NASDAQ:VERX) Shares Bought by Premier Fund Managers Ltd

Premier Fund Managers Ltd lifted its stake in Vertex, Inc. (NASDAQ:VERX - Free Report) by 787.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 524,775 shares of the company's stock after purchasing an additional 465,610 shares during the quarter. Premier Fund Managers Ltd owned about 0.34% of Vertex worth $19,280,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Silvercrest Asset Management Group LLC boosted its holdings in shares of Vertex by 13.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 712,926 shares of the company's stock valued at $22,643,000 after acquiring an additional 85,237 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Vertex in the 2nd quarter valued at $22,173,000. Quadrature Capital Ltd grew its stake in Vertex by 24.7% during the 1st quarter. Quadrature Capital Ltd now owns 92,167 shares of the company's stock valued at $2,927,000 after acquiring an additional 18,258 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Vertex by 10.0% in the second quarter. Envestnet Asset Management Inc. now owns 248,001 shares of the company's stock valued at $8,940,000 after purchasing an additional 22,514 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Vertex during the 2nd quarter worth $1,824,000. Hedge funds and other institutional investors own 59.10% of the company's stock.

Insider Activity at Vertex

In other news, CEO David Destefano sold 22,275 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $49.55, for a total value of $1,103,726.25. Following the completion of the sale, the chief executive officer now directly owns 293,246 shares of the company's stock, valued at approximately $14,530,339.30. This represents a 7.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John R. Schwab sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the transaction, the chief financial officer now owns 53,104 shares in the company, valued at $1,901,654.24. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,330,756 shares of company stock worth $196,342,674 in the last three months. 44.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VERX shares. Robert W. Baird upped their price objective on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. JMP Securities raised their price target on shares of Vertex from $47.00 to $61.00 and gave the company a "market outperform" rating in a research report on Thursday, November 7th. Baird R W upgraded shares of Vertex to a "strong-buy" rating in a research note on Tuesday, July 23rd. Morgan Stanley upped their price objective on Vertex from $50.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets increased their target price on shares of Vertex from $42.00 to $52.00 and gave the company a "market perform" rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.30.

Vertex Stock Performance

Shares of NASDAQ VERX traded up $0.40 during trading on Wednesday, reaching $51.60. The stock had a trading volume of 124,324 shares, compared to its average volume of 784,184. The stock has a market cap of $8.05 billion, a PE ratio of 284.44, a P/E/G ratio of 9.22 and a beta of 0.67. Vertex, Inc. has a one year low of $23.31 and a one year high of $52.93. The firm's 50 day moving average price is $42.04 and its two-hundred day moving average price is $37.73. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. On average, research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

About Vertex

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.