Algert Global LLC lowered its stake in shares of Vertex, Inc. (NASDAQ:VERX – Free Report) by 47.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,626 shares of the company’s stock after selling 17,904 shares during the quarter. Algert Global LLC’s holdings in Vertex were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its position in Vertex by 1.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 51,624 shares of the company’s stock valued at $1,640,000 after purchasing an additional 589 shares during the period. Blue Trust Inc. bought a new stake in shares of Vertex during the 2nd quarter valued at $28,000. Ellsworth Advisors LLC grew its stake in Vertex by 6.6% during the second quarter. Ellsworth Advisors LLC now owns 16,010 shares of the company’s stock valued at $577,000 after acquiring an additional 992 shares in the last quarter. Quest Partners LLC purchased a new position in Vertex during the second quarter valued at $37,000. Finally, Canada Pension Plan Investment Board purchased a new position in Vertex during the second quarter valued at $40,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.
Vertex Stock Performance
Shares of VERX traded down $1.12 during trading hours on Friday, hitting $40.48. The stock had a trading volume of 1,296,774 shares, compared to its average volume of 777,695. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a 50-day moving average price of $37.10 and a 200 day moving average price of $34.52. Vertex, Inc. has a fifty-two week low of $21.92 and a fifty-two week high of $42.38. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 1,012.00, a PEG ratio of 11.75 and a beta of 0.68.
Vertex (NASDAQ:VERX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $161.10 million during 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 revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. As a group, research analysts anticipate that Vertex, Inc. will post 0.34 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently issued reports on VERX. 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. JMP Securities boosted their price target on shares of Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Vertex in a research report on Thursday, June 13th. Baird R W raised shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird started coverage on shares of Vertex in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.30.
Insider Activity
In related news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the company’s 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 completion of the sale, the insider now owns 1,054,641 shares of the company’s stock, valued at approximately $39,875,976.21. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of Vertex stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $37.27, for a total value of $5,922,203.00. Following the completion of the transaction, the insider now owns 1,430,100 shares in the company, valued at approximately $53,299,827. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Jeffrey Westphal sold 1,500,000 shares of Vertex stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,054,641 shares of the company’s stock, valued at $39,875,976.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,699,900 shares of company stock worth $64,107,653 over the last three months. Insiders own 45.00% 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.