13,800 Shares in Vertex, Inc. (NASDAQ:VERX) Bought by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in Vertex, Inc. (NASDAQ:VERX - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,800 shares of the company's stock, valued at approximately $531,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC increased its stake in Vertex by 2.5% in the third quarter. FMR LLC now owns 2,287,774 shares of the company's stock valued at $88,102,000 after purchasing an additional 54,985 shares during the period. Geneva Capital Management LLC grew its stake in shares of Vertex by 40.1% in the 3rd quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company's stock valued at $55,863,000 after purchasing an additional 414,945 shares during the last quarter. Banque Pictet & Cie SA increased its holdings in shares of Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company's stock valued at $34,231,000 after purchasing an additional 803,881 shares during the period. William Blair Investment Management LLC grew its position in Vertex by 8.1% in the 2nd quarter. William Blair Investment Management LLC now owns 782,715 shares of the company's stock valued at $28,217,000 after buying an additional 58,678 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Vertex by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 668,178 shares of the company's stock valued at $24,088,000 after buying an additional 40,593 shares during the period. 59.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex

In other news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $39.42, for a total transaction of $48,289,500.00. Following the completion of the sale, the insider now owns 7,895 shares in the company, valued at approximately $311,220.90. The trade was a 99.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Richard Stamm sold 2,500 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $53.81, for a total transaction of $134,525.00. Following the completion of the sale, the director now directly owns 15,535 shares of the company's stock, valued at $835,938.35. The trade was a 13.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,432,563 shares of company stock worth $205,436,496 in the last 90 days. 44.58% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on VERX shares. Jefferies Financial Group upgraded shares of Vertex from a "hold" rating to a "buy" rating and raised their target price for the stock from $35.00 to $50.00 in a research note on Monday, November 4th. Robert W. Baird lifted 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. The Goldman Sachs Group increased their target price on Vertex from $42.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. BMO Capital Markets lifted their price target on Vertex from $42.00 to $52.00 and gave the company a "market perform" rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC increased their price objective on Vertex from $45.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Vertex currently has a consensus rating of "Moderate Buy" and an average target price of $52.30.

Vertex Price Performance

Shares of NASDAQ VERX traded down $0.11 during trading on Thursday, reaching $54.79. The company had a trading volume of 522,671 shares, compared to its average volume of 785,352. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a twelve month low of $23.31 and a twelve month high of $57.74. The stock has a 50-day moving average price of $47.93 and a two-hundred day moving average price of $40.35. The stock has a market capitalization of $8.55 billion, a PE ratio of 304.39, a price-to-earnings-growth ratio of 10.57 and a beta of 0.77.

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