Advisors Asset Management Inc. Has $37,000 Holdings in Vertex, Inc. (NASDAQ:VERX)

Advisors Asset Management Inc. lifted its position in Vertex, Inc. (NASDAQ:VERX) by 126.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 968 shares of the company’s stock after acquiring an additional 540 shares during the quarter. Advisors Asset Management Inc.’s holdings in Vertex were worth $37,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in shares of Vertex in the second quarter valued at $28,000. Quest Partners LLC purchased a new position in shares of Vertex during the second quarter valued at $37,000. Canada Pension Plan Investment Board acquired a new position in Vertex during the second quarter valued at $40,000. Amalgamated Bank purchased a new stake in Vertex in the 2nd quarter worth about $68,000. Finally, KBC Group NV lifted its stake in Vertex by 46.1% in the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after acquiring an additional 662 shares in the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.

Analyst Ratings Changes

VERX has been the topic of several research analyst reports. Morgan Stanley lifted their target price on Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $50.00 in a research report on Monday, November 4th. JMP Securities increased their target price on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their target price on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.30.

Vertex Stock Performance

Shares of VERX opened at $54.25 on Friday. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 301.39, a price-to-earnings-growth ratio of 10.18 and a beta of 0.67. The company’s fifty day moving average is $44.88 and its 200-day moving average is $38.93. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 12 month low of $23.31 and a 12 month high of $55.52.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $165.70 million. During the same period in the prior year, the company posted $0.06 earnings per share. Vertex’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $55.08, for a total value of $166,341.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Destefano sold 159,107 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $49.61, for a total transaction of $7,893,298.27. Following the completion of the transaction, the chief executive officer now owns 332,290 shares in the company, valued at $16,484,906.90. The trade was a 32.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,202,949 shares of company stock valued at $192,797,340. 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.