Vertex, Inc. (NASDAQ:VERX) Shares Acquired by Quest Partners LLC

Quest Partners LLC lifted its position in shares of Vertex, Inc. (NASDAQ:VERX) by 344.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,529 shares of the company’s stock after buying an additional 3,510 shares during the quarter. Quest Partners LLC’s holdings in Vertex were worth $174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. purchased a new stake in Vertex during the 2nd quarter worth about $28,000. Canada Pension Plan Investment Board purchased a new stake in Vertex during the 2nd quarter worth about $40,000. Amalgamated Bank purchased a new stake in Vertex during the 2nd quarter worth about $68,000. KBC Group NV increased its position in Vertex by 46.1% during the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after purchasing an additional 662 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Vertex during the 1st quarter worth about $192,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on VERX shares. Needham & Company LLC lifted 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. The Goldman Sachs Group lifted their price objective on Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley lifted their price objective on Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. 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, Stifel Nicolaus lifted their price target on Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.30.

Vertex Stock Down 1.6 %

Shares of NASDAQ:VERX opened at $54.25 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. Vertex, Inc. has a 1 year low of $23.31 and a 1 year high of $55.52. The stock has a market capitalization of $8.46 billion, a P/E ratio of 306.39, a PEG ratio of 10.30 and a beta of 0.67. The stock has a 50-day simple moving average of $43.84 and a 200-day simple moving average of $38.55.

Vertex (NASDAQ:VERX) last issued 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. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $165.70 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current year.

Insider Transactions 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 business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $53.81, for a total value of $134,525.00. Following the sale, the director now 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. In the last quarter, insiders sold 4,202,949 shares of company stock worth $192,797,340. 44.58% of the stock is currently owned by company insiders.

About Vertex

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.