Vertex, Inc. (NASDAQ:VERX) Shares Acquired by Fmr LLC

Fmr LLC increased its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,287,774 shares of the company’s stock after purchasing an additional 54,985 shares during the period. Fmr LLC owned 1.47% of Vertex worth $88,102,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new stake in shares of Vertex during the 2nd quarter worth about $28,000. Quest Partners LLC purchased a new stake in Vertex in the 2nd quarter worth approximately $37,000. Advisors Asset Management Inc. raised its holdings in Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after acquiring an additional 540 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Vertex in the 2nd quarter valued at $40,000. Finally, Amalgamated Bank purchased a new position in shares of Vertex during the 2nd quarter worth $68,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Vertex Price Performance

VERX opened at $55.99 on Friday. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $57.74. The company has a 50 day moving average of $46.37 and a two-hundred day moving average of $39.59. The company has a market cap of $8.73 billion, a P/E ratio of 311.06, a P/E/G ratio of 10.68 and a beta of 0.77. 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 (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share 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 earned $0.06 EPS. The firm’s revenue was up 17.5% on a year-over-year basis. On average, analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VERX has been the subject of several analyst reports. Morgan Stanley upped 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. BMO Capital Markets lifted their price target on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $50.00 in a report on Monday, November 4th. 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 report on Thursday, November 7th. Three equities research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.30.

Insider Activity

In other news, CEO David Destefano sold 25,607 shares of Vertex stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $55.05, for a total transaction of $1,409,665.35. Following the sale, the chief executive officer now directly owns 221,932 shares of the company’s stock, valued at approximately $12,217,356.60. The trade was a 10.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Richard Stamm sold 2,500 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $53.81, for a total value of $134,525.00. Following the completion of the transaction, the director now owns 15,535 shares in the company, valued at approximately $835,938.35. This trade represents a 13.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,202,949 shares of company stock worth $192,797,340. 44.58% of the stock is currently owned by corporate 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.