5,030 Shares in Vertex, Inc. (NASDAQ:VERX) Bought by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC acquired a new position in shares of Vertex, Inc. (NASDAQ:VERX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,030 shares of the company’s stock, valued at approximately $194,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Vertex by 4.2% in the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock valued at $183,929,000 after acquiring an additional 235,407 shares in the last quarter. Geneva Capital Management LLC lifted its stake in shares of Vertex by 40.1% in the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after purchasing an additional 414,945 shares during the period. Banque Pictet & Cie SA lifted its stake in shares of Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after purchasing an additional 803,881 shares during the period. William Blair Investment Management LLC raised its position in Vertex by 8.1% during the second quarter. William Blair Investment Management LLC now owns 782,715 shares of the company’s stock worth $28,217,000 after acquiring an additional 58,678 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in Vertex by 13.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 712,926 shares of the company’s stock worth $22,643,000 after acquiring an additional 85,237 shares during the last quarter. 59.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VERX. Needham & Company LLC lifted their target price 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 lifted their target price on shares of Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. BMO Capital Markets lifted their target price on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Morgan Stanley lifted their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Vertex presently has a consensus rating of “Moderate Buy” and an average target price of $52.30.

Vertex Trading Down 2.0 %

Shares of NASDAQ:VERX traded down $1.01 during trading on Thursday, reaching $49.57. The stock had a trading volume of 94,989 shares, compared to its average volume of 783,468. The business has a fifty day moving average price of $40.91 and a 200-day moving average price of $37.09. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a market cap of $7.71 billion, a P/E ratio of 281.00, a PEG ratio of 9.34 and a beta of 0.67. Vertex, Inc. has a fifty-two week low of $23.31 and a fifty-two week high of $52.93.

Vertex (NASDAQ:VERX) last released its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $165.70 million. During the same period in the previous year, the firm earned $0.06 earnings per share. Vertex’s revenue was up 17.5% compared to the same quarter last year. As a group, analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Activity at Vertex

In related news, major shareholder Jeffrey Westphal sold 2,485,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $48.90, for a total value of $121,516,500.00. Following the completion of the sale, the insider now directly owns 7,895 shares in the company, valued at approximately $386,065.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 8,485 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $49.50, for a total transaction of $420,007.50. Following the completion of the sale, the insider now directly owns 782,706 shares in the company, valued at $38,743,947. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jeffrey Westphal sold 2,485,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $48.90, for a total transaction of $121,516,500.00. Following the completion of the transaction, the insider now owns 7,895 shares of the company’s stock, valued at $386,065.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,149,374 shares of company stock worth $187,345,650. 44.58% of the stock is owned by company insiders.

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.