Triasima Portfolio Management inc. acquired a new stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 58,761 shares of the company's stock, valued at approximately $3,135,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in Vertex by 11.4% during the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company's stock valued at $134,000 after purchasing an additional 257 shares during the period. Sheets Smith Wealth Management lifted its holdings in Vertex by 2.2% in the fourth quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company's stock worth $806,000 after purchasing an additional 324 shares during the period. Verdence Capital Advisors LLC grew its position in Vertex by 6.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company's stock valued at $320,000 after buying an additional 477 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock worth $37,000 after acquiring an additional 540 shares during the period. Finally, KBC Group NV increased its holdings in shares of Vertex by 27.1% in the fourth quarter. KBC Group NV now owns 2,668 shares of the company's stock valued at $142,000 after buying an additional 569 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company's stock.
Insider Buying and Selling at Vertex
In other news, CEO David Destefano sold 159,107 shares of the company'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 transaction of $7,893,298.27. Following the transaction, the chief executive officer now directly owns 332,290 shares in the company, valued at approximately $16,484,906.90. This represents a 32.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Bryan T.R. Rowland sold 3,020 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $55.08, for a total transaction of $166,341.60. The disclosure for this sale can be found here. Insiders have sold 1,111,932 shares of company stock valued at $59,005,301 in the last 90 days. 44.58% of the stock is currently owned by company insiders.
Vertex Stock Performance
VERX traded down $3.42 on Tuesday, hitting $52.60. 614,999 shares of the stock traded hands, compared to its average volume of 789,387. Vertex, Inc. has a 52 week low of $24.17 and a 52 week high of $60.71. The firm has a market capitalization of $8.20 billion, a PE ratio of 292.49, a P/E/G ratio of 8.49 and a beta of 0.78. The business has a fifty day moving average price of $54.97 and a two-hundred day moving average price of $46.15. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29.
Wall Street Analyst Weigh In
VERX has been the subject of several research reports. Raymond James reissued a "market perform" rating on shares of Vertex in a research note on Friday, January 3rd. Morgan Stanley raised their price target on shares of Vertex from $50.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Needham & Company LLC upped their target price on Vertex from $45.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Vertex from $42.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.36.
Check Out Our Latest Report on Vertex
Vertex Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Vertex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Vertex wasn't on the list.
While Vertex currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
