Vertex, Inc. (NASDAQ:VERX) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG reduced its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 36.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,560 shares of the company's stock after selling 13,850 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Vertex were worth $1,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of VERX. nVerses Capital LLC bought a new position in shares of Vertex in the third quarter worth $208,000. Ellsworth Advisors LLC grew its holdings in Vertex by 4.4% in the 3rd quarter. Ellsworth Advisors LLC now owns 16,707 shares of the company's stock worth $643,000 after acquiring an additional 697 shares during the last quarter. Blue Trust Inc. lifted its holdings in Vertex by 191.1% in the 3rd quarter. Blue Trust Inc. now owns 2,259 shares of the company's stock worth $81,000 after buying an additional 1,483 shares during the period. Whittier Trust Co. lifted its position in shares of Vertex by 5.1% in the 3rd quarter. Whittier Trust Co. now owns 160,791 shares of the company's stock worth $6,190,000 after purchasing an additional 7,858 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Vertex by 3.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 80,115 shares of the company's stock valued at $3,084,000 after acquiring an additional 2,999 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VERX shares. Morgan Stanley lifted their price target on shares of Vertex from $50.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Robert W. Baird raised their price target on shares of 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 raised their target price on Vertex from $42.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $61.00 target price on shares of Vertex in a report on Monday, December 9th. Finally, Needham & Company LLC increased their price objective on shares of Vertex from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex has an average rating of "Moderate Buy" and a consensus price target of $55.36.

Vertex Stock Down 3.1 %

Shares of NASDAQ VERX traded down $1.49 during midday trading on Wednesday, hitting $46.13. The company's stock had a trading volume of 1,365,151 shares, compared to its average volume of 948,107. Vertex, Inc. has a 1 year low of $24.17 and a 1 year high of $60.71. The business's fifty day simple moving average is $53.87 and its two-hundred day simple moving average is $46.55. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 256.28, a price-to-earnings-growth ratio of 6.82 and a beta of 0.78.

Insider Buying and Selling

In other Vertex news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total value of $166,341.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Westphal sold 575,000 shares of the stock in a transaction 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 sale, the insider now owns 7,895 shares in the company, valued at approximately $418,513.95. This trade represents a 98.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 889,584 shares of company stock worth $47,871,490 in the last ninety days. 44.58% of the stock is owned by corporate insiders.

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.