Toth Financial Advisory Corp Takes Position in Vertex, Inc. (NASDAQ:VERX)

Toth Financial Advisory Corp bought a new stake in Vertex, Inc. (NASDAQ:VERX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,780 shares of the company’s stock, valued at approximately $628,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its holdings in shares of Vertex by 19.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,832,620 shares of the company’s stock valued at $76,311,000 after purchasing an additional 452,840 shares during the last quarter. Comerica Bank purchased a new stake in Vertex during the 3rd quarter valued at approximately $4,763,000. Invesco Ltd. raised its stake in Vertex by 85.7% during the 3rd quarter. Invesco Ltd. now owns 425,192 shares of the company’s stock valued at $9,822,000 after acquiring an additional 196,169 shares during the last quarter. Vanguard Group Inc. raised its stake in Vertex by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,918,733 shares of the company’s stock valued at $113,623,000 after acquiring an additional 264,884 shares during the last quarter. Finally, Axiom Investors LLC DE purchased a new stake in Vertex during the 4th quarter valued at approximately $9,253,000. 59.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on VERX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Vertex in a research note on Thursday, June 13th. Citigroup upped their price objective on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of Vertex in a research note on Tuesday, April 23rd. Finally, Bank of America reduced their price objective on Vertex from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.11.

Vertex Stock Performance

NASDAQ VERX opened at $36.05 on Friday. 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 business’s 50 day moving average is $32.59 and its two-hundred day moving average is $29.37. Vertex, Inc. has a 12-month low of $17.59 and a 12-month high of $36.36. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 901.25, a PEG ratio of 18.35 and a beta of 0.68.

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

Insider Buying and Selling

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 sale, the insider now owns 2,554,641 shares in the company, valued at approximately $84,124,328.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 45.00% of the company’s stock.

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.