Dimensional Fund Advisors LP Buys 40,593 Shares of Vertex, Inc. (NASDAQ:VERX)

Dimensional Fund Advisors LP boosted its position in Vertex, Inc. (NASDAQ:VERX) by 6.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 668,178 shares of the company’s stock after purchasing an additional 40,593 shares during the period. Dimensional Fund Advisors LP’s holdings in Vertex were worth $24,088,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Banque Pictet & Cie SA increased its holdings 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. Pembroke Management LTD boosted its holdings in Vertex by 255.3% in the first 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Vertex by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock worth $149,673,000 after purchasing an additional 637,075 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Vertex in the 1st quarter worth $12,043,000. Finally, Mizuho Markets Americas LLC bought a new stake in Vertex during the second quarter valued at about $12,402,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 1,054,641 shares of the company’s stock, valued at $39,875,976.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $37.81, for a total transaction of $56,715,000.00. Following the transaction, the insider now owns 1,054,641 shares of the company’s stock, valued at $39,875,976.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $37.27, for a total transaction of $5,922,203.00. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 1,699,900 shares of company stock worth $64,107,653. Corporate insiders own 45.00% of the company’s stock.

Vertex Stock Up 1.2 %

NASDAQ VERX opened at $41.60 on Friday. The business has a 50 day moving average price of $36.98 and a two-hundred day moving average price of $34.36. Vertex, Inc. has a fifty-two week low of $21.87 and a fifty-two week high of $41.84. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The stock has a market cap of $6.45 billion, a PE ratio of 1,040.00, a P/E/G ratio of 10.50 and a beta of 0.68.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The firm had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same period in the prior year, the business earned $0.04 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that Vertex, Inc. will post 0.34 EPS for the current fiscal year.

Vertex 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.