Quantbot Technologies LP Boosts Stock Position in Vertex, Inc. (NASDAQ:VERX)

Quantbot Technologies LP lifted its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 119,107.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,875 shares of the company's stock after acquiring an additional 48,834 shares during the period. Quantbot Technologies LP's holdings in Vertex were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in Vertex in the 2nd quarter valued at about $28,000. Quest Partners LLC bought a new stake in Vertex in the 2nd quarter valued at about $37,000. Advisors Asset Management Inc. increased its position in Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock valued at $37,000 after buying an additional 540 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Vertex in the 2nd quarter valued at about $40,000. Finally, Amalgamated Bank bought a new stake in Vertex in the 2nd quarter valued at about $68,000. 59.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VERX shares. Robert W. Baird boosted their target price on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Vertex from $42.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on Vertex from $41.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Needham & Company LLC boosted 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. Finally, JMP Securities boosted their price objective on Vertex from $47.00 to $61.00 and gave the stock a "market outperform" rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.30.

Insider Activity at Vertex

In related news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the company's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $39.42, for a total value of $48,289,500.00. Following the transaction, the insider now owns 7,895 shares in the company, valued at approximately $311,220.90. This represents a 99.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Item Second Irr. Trust Fbo Jac sold 46,098 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $40.48, for a total value of $1,866,047.04. Following the sale, the insider now owns 989,125 shares in the company, valued at approximately $40,039,780. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,202,949 shares of company stock worth $192,797,340. Insiders own 44.58% of the company's stock.

Vertex Price Performance

Shares of NASDAQ VERX remained flat at $54.25 during midday trading on Friday. The stock had a trading volume of 322,976 shares, compared to its average volume of 786,719. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $55.52. The firm has a 50-day moving average price of $44.88 and a 200 day moving average price of $38.93. The firm has a market cap of $8.46 billion, a PE ratio of 301.39, a P/E/G ratio of 10.18 and a beta of 0.67. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04.

Vertex (NASDAQ:VERX - Get Free Report) last announced its 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 firm had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company's revenue was up 17.5% compared to the same quarter last year. On average, equities analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

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.