Vertex, Inc. (NASDAQ:VERX) Stake Lifted by State Street Corp

State Street Corp raised its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 36.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,361,901 shares of the company's stock after acquiring an additional 363,595 shares during the period. State Street Corp owned 0.88% of Vertex worth $52,447,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in VERX. Blue Trust Inc. acquired a new stake in shares of Vertex in the second quarter worth approximately $28,000. Quest Partners LLC purchased a new position in Vertex during the second quarter worth approximately $37,000. Advisors Asset Management Inc. boosted its holdings in shares of 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 purchasing an additional 540 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Vertex during the 2nd quarter valued at $40,000. Finally, Amalgamated Bank acquired a new stake in shares of Vertex during the 2nd quarter worth $68,000. Hedge funds and other institutional investors own 70.32% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 13,346 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $55.13, for a total value of $735,764.98. Following the sale, the insider now owns 1,344,754 shares of the company's stock, valued at approximately $74,136,288.02. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Westphal sold 575,000 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $53.01, for a total value of $30,480,750.00. Following the transaction, the insider now owns 7,895 shares of the company's stock, valued at $418,513.95. This represents a 98.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,007,563 shares of company stock worth $235,917,246. Corporate insiders own 44.58% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on VERX. The Goldman Sachs Group boosted their price target on Vertex from $42.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their target price on shares of Vertex from $45.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, November 7th. JMP Securities reiterated a "market outperform" rating and issued a $61.00 target price on shares of Vertex in a research note on Monday, December 9th. Citigroup boosted their price target on Vertex from $46.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Robert W. Baird increased their price objective 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. Three 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $54.70.

Vertex Stock Down 0.1 %

Shares of Vertex stock traded down $0.06 on Friday, hitting $53.53. 1,857,312 shares of the company's stock traded hands, compared to its average volume of 797,302. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $57.74. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a market cap of $8.35 billion, a P/E ratio of 297.39, a PEG ratio of 9.83 and a beta of 0.77. The firm's 50-day moving average is $49.18 and its 200 day moving average is $41.05.

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

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.