SG Americas Securities LLC Has $149,000 Stock Position in Vertex, Inc. (NASDAQ:VERX)

SG Americas Securities LLC decreased its position in shares of Vertex, Inc. (NASDAQ:VERX) by 75.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,801 shares of the company’s stock after selling 8,732 shares during the quarter. SG Americas Securities LLC’s holdings in Vertex were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after purchasing an additional 540 shares during the period. Armstrong Advisory Group Inc. bought a new position in Vertex during the 4th quarter worth $50,000. Blue Trust Inc. raised its stake in Vertex by 191.1% in the third quarter. Blue Trust Inc. now owns 2,259 shares of the company’s stock valued at $81,000 after purchasing an additional 1,483 shares in the last quarter. KBC Group NV grew its stake in Vertex by 46.1% during the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after buying an additional 662 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in Vertex by 344.5% in the 3rd quarter. Quest Partners LLC now owns 4,529 shares of the company’s stock valued at $174,000 after buying an additional 3,510 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on VERX. Raymond James restated a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. Robert W. Baird raised their price target on shares of Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC upped their price objective on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JMP Securities restated a “market outperform” rating and set a $61.00 price objective on shares of Vertex in a research report on Monday, December 9th. Finally, Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $50.00 in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Vertex Price Performance

Shares of NASDAQ:VERX opened at $56.02 on Tuesday. The company has a market capitalization of $8.74 billion, a P/E ratio of 311.22, a price-to-earnings-growth ratio of 8.49 and a beta of 0.78. 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 fifty-two week low of $24.17 and a fifty-two week high of $60.71. The company’s 50-day moving average is $54.97 and its 200 day moving average is $46.15.

Insider Transactions at Vertex

In other news, CEO David Destefano sold 22,275 shares of Vertex stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $49.55, for a total transaction of $1,103,726.25. Following the completion of the sale, the chief executive officer now owns 293,246 shares in the company, valued at approximately $14,530,339.30. This trade represents a 7.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Bryan T.R. Rowland sold 3,020 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total transaction of $166,341.60. The disclosure for this sale can be found here. Insiders sold a total of 1,111,932 shares of company stock worth $59,005,301 in the last quarter. Insiders own 44.58% of the company’s stock.

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.