Intech Investment Management LLC Invests $448,000 in Vertex, Inc. (NASDAQ:VERX)

Intech Investment Management LLC acquired a new position in shares of Vertex, Inc. (NASDAQ:VERX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,643 shares of the company’s stock, valued at approximately $448,000.

Several other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in Vertex by 6.3% during the 1st quarter. California State Teachers Retirement System now owns 46,115 shares of the company’s stock worth $1,465,000 after purchasing an additional 2,719 shares in the last quarter. Cetera Advisors LLC purchased a new position in Vertex during the 1st quarter valued at about $239,000. Bank Pictet & Cie Asia Ltd. purchased a new position in Vertex during the 2nd quarter valued at $389,000. PICTET BANK & TRUST Ltd purchased a new position in shares of Vertex during the 2nd quarter worth approximately $278,000. Finally, Ellsworth Advisors LLC lifted its position 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 buying an additional 992 shares during the period. Institutional investors own 59.10% of the company’s stock.

Vertex Trading Up 0.7 %

VERX opened at $54.64 on Tuesday. 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 52-week low of $23.31 and a 52-week high of $55.52. The firm’s 50 day moving average is $45.20 and its 200-day moving average is $39.19. The firm has a market capitalization of $8.52 billion, a P/E ratio of 303.56, a P/E/G ratio of 10.18 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VERX has been the topic of several recent analyst reports. JMP Securities increased their price objective on Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price target on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus increased their price objective on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group raised shares of Vertex from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $50.00 in a research note on Monday, November 4th. Finally, Needham & Company LLC increased their price target on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.30.

Insider Activity at Vertex

In related news, major shareholder Jeffrey Westphal sold 2,485,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $48.90, for a total transaction of $121,516,500.00. Following the completion of the sale, the insider now directly owns 7,895 shares of the company’s stock, valued at $386,065.50. This trade represents a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 3,020 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $55.08, for a total transaction of $166,341.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,202,949 shares of company stock valued at $192,797,340. Insiders own 44.58% 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.