7,601 Shares in Vertex, Inc. (NASDAQ:VERX) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP bought a new stake in Vertex, Inc. (NASDAQ:VERX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,601 shares of the company’s stock, valued at approximately $274,000.

Several other large investors also recently modified their holdings of VERX. Blue Trust Inc. acquired a new position in shares of Vertex in the 2nd quarter valued at approximately $28,000. Quest Partners LLC bought a new position in Vertex in the second quarter valued at approximately $37,000. Canada Pension Plan Investment Board acquired a new position in shares of Vertex in the second quarter valued at approximately $40,000. Amalgamated Bank bought a new stake in shares of Vertex during the second quarter worth $68,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Vertex during the first quarter worth $159,000. 59.10% of the stock is currently owned by institutional investors.

Vertex Stock Performance

Shares of VERX stock opened at $36.73 on Monday. The company has a fifty day moving average price of $36.93 and a two-hundred day moving average price of $34.18. Vertex, Inc. has a one year low of $21.50 and a one year high of $40.05. The stock has a market cap of $5.70 billion, a P/E ratio of 918.25, a P/E/G ratio of 10.68 and a beta of 0.69. 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 (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $161.10 million during the quarter, compared to analysts’ expectations of $160.66 million. Vertex had a return on equity of 22.32% and a net margin of 3.20%. Vertex’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.04 earnings per share. As a group, equities analysts predict that Vertex, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $37.81, for a total transaction of $56,715,000.00. Following the completion of the sale, the insider now owns 1,054,641 shares of the company’s stock, valued at approximately $39,875,976.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $37.81, for a total value of $56,715,000.00. Following the transaction, the insider now directly owns 1,054,641 shares of the company’s stock, valued at approximately $39,875,976.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $37.27, for a total value of $5,922,203.00. Following the sale, the insider now owns 1,430,100 shares of the company’s stock, valued at approximately $53,299,827. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,699,900 shares of company stock valued at $64,107,653. 45.00% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.