Mizuho Markets Americas LLC Has $9.87 Million Stake in Vertex, Inc. (NASDAQ:VERX)

Mizuho Markets Americas LLC reduced its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 25.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,399 shares of the company's stock after selling 87,625 shares during the period. Mizuho Markets Americas LLC owned about 0.16% of Vertex worth $9,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of VERX. Blue Trust Inc. acquired a new position in Vertex during the second quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in Vertex during the second quarter valued at approximately $37,000. Canada Pension Plan Investment Board acquired a new position in Vertex during the second quarter valued at approximately $40,000. Amalgamated Bank acquired a new position in Vertex during the second quarter valued at approximately $68,000. Finally, KBC Group NV boosted its position in Vertex by 46.1% during the third quarter. KBC Group NV now owns 2,099 shares of the company's stock valued at $81,000 after purchasing an additional 662 shares during the last quarter. 59.10% of the stock is owned by institutional investors and hedge funds.

Vertex Stock Performance

Shares of NASDAQ VERX traded down $0.35 during trading hours on Friday, reaching $49.10. 935,293 shares of the stock were exchanged, compared to its average volume of 895,843. The stock's fifty day simple moving average is $41.46 and its 200 day simple moving average is $37.32. Vertex, Inc. has a 52 week low of $23.31 and a 52 week high of $52.93. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 272.78, a P/E/G ratio of 9.28 and a beta of 0.67.

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, 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 analyst estimates of $165.70 million. During the same quarter last year, the company earned $0.06 EPS. The company's revenue was up 17.5% on a year-over-year basis. Sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 26,645 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $51.40, for a total value of $1,369,553.00. Following the sale, the insider now owns 906,061 shares of the company's stock, valued at approximately $46,571,535.40. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $37.27, for a total value of $5,922,203.00. Following the completion of the sale, the insider now directly owns 1,430,100 shares in the company, valued at approximately $53,299,827. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,149,374 shares of company stock worth $187,345,650 in the last 90 days. Company insiders own 44.58% of the company's stock.

Wall Street Analysts Forecast Growth

VERX has been the subject of several recent research reports. Needham & Company LLC increased their price target on Vertex from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. JMP Securities increased their price target on Vertex from $47.00 to $61.00 and gave the company a "market outperform" rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Vertex from $42.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Robert W. Baird upped their price objective on Vertex from $43.00 to $57.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on Vertex from $41.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Vertex currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.30.

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.