Blue Trust Inc. Acquires 1,483 Shares of Vertex, Inc. (NASDAQ:VERX)

Blue Trust Inc. raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 191.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,259 shares of the company’s stock after buying an additional 1,483 shares during the period. Blue Trust Inc.’s holdings in Vertex were worth $81,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quest Partners LLC bought a new stake in Vertex in the 2nd quarter worth $37,000. Canada Pension Plan Investment Board purchased a new stake in shares of Vertex during the second quarter worth about $40,000. Amalgamated Bank bought a new stake in shares of Vertex in the second quarter worth about $68,000. Sandia Investment Management LP bought a new stake in shares of Vertex in the first quarter worth about $159,000. Finally, SG Americas Securities LLC purchased a new position in Vertex during the 1st quarter valued at about $166,000. 59.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VERX has been the subject of several research analyst reports. Robert W. Baird began coverage on Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. JMP Securities raised their price target on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Finally, Baird R W raised shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.30.

Insider Buying and Selling

In other Vertex news, Director John Richard Stamm sold 16,000 shares of Vertex stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total transaction of $575,200.00. Following the completion of the transaction, the director now owns 21,635 shares in the company, valued at approximately $777,778.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John Richard Stamm sold 16,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the sale, the director now directly owns 21,635 shares of the company’s stock, valued at approximately $777,778.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John R. Schwab sold 25,000 shares of Vertex stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,104 shares of the company’s stock, valued at $1,901,654.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,629,244 shares of company stock worth $64,039,589 in the last 90 days. Insiders own 44.58% of the company’s stock.

Vertex Stock Performance

Shares of VERX stock opened at $42.85 on Thursday. The company’s fifty day moving average price is $38.81 and its 200-day moving average price is $35.79. The stock has a market cap of $6.66 billion, a PE ratio of 358.58, a price-to-earnings-growth ratio of 12.02 and a beta of 0.68. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. Vertex, Inc. has a 12 month low of $21.92 and a 12 month high of $43.33.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $160.66 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Vertex’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts expect 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.