1,019 Shares in Vertex, Inc. (NASDAQ:VERX) Bought by Quest Partners LLC

Quest Partners LLC purchased a new stake in Vertex, Inc. (NASDAQ:VERX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,019 shares of the company’s stock, valued at approximately $37,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in Vertex by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after purchasing an additional 235,407 shares during the last quarter. Legacy Advisors LLC increased its position in shares of Vertex by 1,517.0% in the 4th quarter. Legacy Advisors LLC now owns 3,244,871 shares of the company’s stock valued at $87,417,000 after acquiring an additional 3,044,193 shares during the period. TimesSquare Capital Management LLC raised its stake in Vertex by 2.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,386,848 shares of the company’s stock worth $44,046,000 after acquiring an additional 30,523 shares during the last quarter. Banque Pictet & Cie SA lifted its position in Vertex by 551.9% during the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after acquiring an additional 803,881 shares during the period. Finally, Pembroke Management LTD lifted its position in Vertex by 255.3% during the 1st quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock worth $29,446,000 after acquiring an additional 666,223 shares during the period. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Vertex Stock Performance

Shares of NASDAQ:VERX opened at $37.07 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. Vertex, Inc. has a 1 year low of $20.62 and a 1 year high of $40.05. The firm has a market capitalization of $5.77 billion, a PE ratio of 926.75, a P/E/G ratio of 10.40 and a beta of 0.69. The business’s 50 day moving average price is $36.95 and its 200-day moving average price is $33.81.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $161.10 million for the quarter, compared to analysts’ expectations of $160.66 million. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. As a group, equities research analysts expect that Vertex, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JMP Securities raised their price objective on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Vertex in a research note on Thursday, June 13th. Citigroup raised their target price on shares of Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Finally, Robert W. Baird started coverage on shares of Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Vertex currently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

Insider Transactions at Vertex

In other Vertex news, CFO John R. Schwab sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,104 shares of the company’s stock, valued at approximately $1,901,654.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO John R. Schwab sold 25,000 shares of Vertex stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the sale, the chief financial officer now owns 53,104 shares of the company’s stock, valued at approximately $1,901,654.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Richard Stamm sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now owns 21,635 shares in the company, valued at $777,778.25. The disclosure for this sale can be found here. Insiders have sold a total of 1,699,900 shares of company stock worth $64,107,653 in the last ninety days. Insiders own 45.00% of the company’s stock.

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.