Renaissance Technologies LLC Purchases 100,300 Shares of Vertex, Inc. (NASDAQ:VERX)

Renaissance Technologies LLC boosted its position in Vertex, Inc. (NASDAQ:VERX) by 36.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 377,100 shares of the company’s stock after acquiring an additional 100,300 shares during the quarter. Renaissance Technologies LLC owned 0.24% of Vertex worth $13,594,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VERX. Oppenheimer Asset Management Inc. increased its stake in shares of Vertex by 1.2% in the 1st 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 last quarter. Blue Trust Inc. acquired a new stake in Vertex in the second quarter valued at about $28,000. Ellsworth Advisors LLC grew its position in Vertex by 6.6% in 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 during the last quarter. Quest Partners LLC acquired a new position in Vertex during the second quarter worth about $37,000. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of Vertex by 16.9% in the second quarter. Verdence Capital Advisors LLC now owns 7,836 shares of the company’s stock worth $282,000 after acquiring an additional 1,134 shares during the last quarter. 59.10% of the stock is currently owned by institutional investors and hedge funds.

Vertex Trading Up 0.9 %

Shares of VERX stock opened at $37.41 on Monday. Vertex, Inc. has a 1-year low of $20.92 and a 1-year high of $40.05. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 935.25, a PEG ratio of 10.40 and a beta of 0.69. The stock has a 50-day moving average of $36.96 and a 200-day moving average of $33.91.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Vertex had a net margin of 3.20% and a return on equity of 22.32%. The business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same quarter in the prior year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts forecast that Vertex, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VERX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Vertex in a report on Thursday, June 13th. JMP Securities boosted their target price on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Citigroup increased their price target on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Robert W. Baird initiated coverage on Vertex in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price objective on the stock. Finally, Baird R W raised Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Four equities 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.30.

Insider Transactions at Vertex

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 value of $56,715,000.00. Following the transaction, the insider now owns 1,054,641 shares in the company, valued at $39,875,976.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of Vertex stock in a transaction that occurred on Tuesday, July 23rd. The stock was 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 in the company, valued at $39,875,976.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Richard Stamm sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now directly owns 21,635 shares in the company, valued at $777,778.25. The disclosure for this sale can be found here. Insiders sold a total of 1,699,900 shares of company stock worth $64,107,653 over the last three months. 45.00% of the stock is owned by company insiders.

About Vertex

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.