Harbour Capital Advisors LLC Sells 875 Shares of Vertex, Inc. (NASDAQ:VERX)

Harbour Capital Advisors LLC reduced its position in shares of Vertex, Inc. (NASDAQ:VERX) by 6.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,560 shares of the company’s stock after selling 875 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Vertex were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of VERX. Tower Research Capital LLC TRC purchased a new position in shares of Vertex in the 4th quarter valued at $72,000. RiverPark Advisors LLC grew its stake in Vertex by 28.4% during the 4th quarter. RiverPark Advisors LLC now owns 3,319 shares of the company’s stock worth $89,000 after buying an additional 735 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Vertex by 33.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,953 shares of the company’s stock worth $241,000 after buying an additional 2,228 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Vertex by 14.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 16,896 shares of the company’s stock worth $390,000 after buying an additional 2,156 shares during the last quarter. Finally, Moody National Bank Trust Division grew its stake in Vertex by 39.6% during the 4th quarter. Moody National Bank Trust Division now owns 18,840 shares of the company’s stock worth $508,000 after buying an additional 5,340 shares during the last quarter. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Price Performance

NASDAQ:VERX opened at $36.05 on Friday. Vertex, Inc. has a 12 month low of $17.59 and a 12 month high of $36.36. The stock has a 50 day moving average of $32.59 and a two-hundred day moving average of $29.36. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The firm has a market cap of $5.59 billion, a P/E ratio of 901.25, a price-to-earnings-growth ratio of 18.22 and a beta of 0.68.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Vertex had a net margin of 1.29% and a return on equity of 18.67%. The company had revenue of $156.78 million during the quarter, compared to analysts’ expectations of $155.50 million. On average, analysts expect that Vertex, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Vertex

In related news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $32.93, for a total value of $49,395,000.00. Following the transaction, the insider now directly owns 2,554,641 shares in the company, valued at $84,124,328.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 45.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on VERX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Vertex in a research report on Thursday, June 13th. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price target on shares of Vertex in a research report on Tuesday, April 23rd. The Goldman Sachs Group lifted their price target on Vertex from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Citigroup lifted their price target on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Jefferies Financial Group lifted their price target on Vertex from $27.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.11.

Vertex Company 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.