Toth Financial Advisory Corp Takes Position in Vertex, Inc. (NASDAQ:VERX)

Toth Financial Advisory Corp acquired a new stake in shares of Vertex, Inc. (NASDAQ:VERX) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 19,780 shares of the company’s stock, valued at approximately $628,000.

Other large investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its position in shares of Vertex by 19.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,832,620 shares of the company’s stock valued at $76,311,000 after buying an additional 452,840 shares in the last quarter. Comerica Bank purchased a new position in Vertex in the 3rd quarter worth approximately $4,763,000. Invesco Ltd. lifted its holdings in Vertex by 85.7% in the 3rd quarter. Invesco Ltd. now owns 425,192 shares of the company’s stock worth $9,822,000 after purchasing an additional 196,169 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Vertex by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,918,733 shares of the company’s stock worth $113,623,000 after purchasing an additional 264,884 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new position in Vertex in the 4th quarter worth approximately $9,253,000. 59.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Vertex in a report on Thursday, June 13th. Citigroup boosted their price target on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday. Bank of America lowered their price target on Vertex from $40.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of Vertex in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.11.

Vertex Stock Performance

NASDAQ VERX opened at $36.05 on Friday. The company has a market cap of $5.59 billion, a P/E ratio of 901.25, a P/E/G ratio of 18.35 and a beta of 0.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60. The business’s 50 day moving average price is $32.59 and its 200-day moving average price is $29.37. Vertex, Inc. has a fifty-two week low of $17.59 and a fifty-two week high of $36.36.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $156.78 million for the quarter, compared to the consensus estimate of $155.50 million. Vertex had a net margin of 1.29% and a return on equity of 18.67%. Sell-side analysts predict that Vertex, Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $32.93, for a total transaction of $49,395,000.00. Following the transaction, the insider now owns 2,554,641 shares of the company’s stock, valued at approximately $84,124,328.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 45.00% of the company’s stock.

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.