Vertex, Inc. (NASDAQ:VERX) Shares Purchased by Swiss National Bank

Swiss National Bank raised its holdings in Vertex, Inc. (NASDAQ:VERX) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,700 shares of the company’s stock after acquiring an additional 7,900 shares during the quarter. Swiss National Bank owned 0.07% of Vertex worth $6,173,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in shares of Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after purchasing an additional 540 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Vertex during the 4th quarter valued at approximately $38,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex during the 4th quarter worth approximately $41,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Vertex in the 4th quarter worth approximately $50,000. Finally, Assetmark Inc. purchased a new position in Vertex in the 4th quarter valued at approximately $79,000. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Trading Down 1.2 %

Shares of VERX opened at $35.71 on Monday. Vertex, Inc. has a fifty-two week low of $27.22 and a fifty-two week high of $60.71. The company has a market capitalization of $5.65 billion, a PE ratio of 198.39, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87. The stock has a fifty day moving average of $46.33 and a two-hundred day moving average of $46.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX) last released its earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). The business had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. As a group, analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Transactions at Vertex

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the sale, the general counsel now directly owns 132 shares of the company’s stock, valued at $4,749.36. The trade was a 99.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $56.48, for a total value of $3,041,052.64. Following the completion of the transaction, the insider now directly owns 1,229,257 shares in the company, valued at $69,428,435.36. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 44.58% of the company’s stock.

Analysts Set New Price Targets

VERX has been the topic of a number of research analyst reports. Robert W. Baird decreased their target price on Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. Citigroup boosted their price objective on shares of Vertex from $46.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. DA Davidson dropped their target price on shares of Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a report on Friday, February 28th. Raymond James reaffirmed a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Finally, Morgan Stanley raised their price objective on shares of Vertex from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.82.

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.