Vertex, Inc. (NASDAQ:VERX) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC decreased its position in shares of Vertex, Inc. (NASDAQ:VERX) by 11.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,697 shares of the company’s stock after selling 4,023 shares during the quarter. Natixis Advisors LLC’s holdings in Vertex were worth $1,182,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Vertex by 4.2% during the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after acquiring an additional 235,407 shares during the period. Lazard Asset Management LLC purchased a new position in Vertex in the 1st quarter valued at about $192,000. Bayesian Capital Management LP acquired a new stake in Vertex in the 1st quarter worth about $321,000. California State Teachers Retirement System increased its stake 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 buying an additional 2,719 shares in the last quarter. Finally, Comerica Bank increased its stake in Vertex by 12.1% during the 1st quarter. Comerica Bank now owns 230,848 shares of the company’s stock worth $7,332,000 after buying an additional 24,851 shares in the last quarter. 59.10% of the stock is owned by hedge funds and other institutional investors.

Vertex Trading Up 0.5 %

Shares of VERX opened at $55.15 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. Vertex, Inc. has a 1-year low of $23.31 and a 1-year high of $55.52. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 306.39, a price-to-earnings-growth ratio of 10.10 and a beta of 0.67. The firm has a 50 day simple moving average of $43.46 and a 200-day simple moving average of $38.39.

Vertex (NASDAQ:VERX) last announced its earnings results 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 for the quarter, compared to analyst estimates of $165.70 million. During the same quarter last year, the business earned $0.06 earnings per share. Vertex’s revenue was up 17.5% compared to the same quarter last year. Equities analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VERX. The Goldman Sachs Group lifted their target price 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. Needham & Company LLC boosted their price target on shares of Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets raised their target price on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley boosted their target price on Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Three investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

Insider Transactions at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $52.16, for a total transaction of $2,136,786.56. Following the sale, the insider now directly owns 1,389,134 shares in the company, valued at $72,457,229.44. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jeffrey Westphal sold 1,225,000 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $39.42, for a total transaction of $48,289,500.00. Following the transaction, the insider now owns 7,895 shares in the company, valued at $311,220.90. This trade represents a 99.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,171,822 shares of company stock worth $191,086,808 in the last three months. 44.58% of the stock is currently owned by company insiders.

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.