Rhumbline Advisers Raises Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Rhumbline Advisers increased its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 5,910.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,210 shares of the company’s stock after purchasing an additional 71,992 shares during the quarter. Rhumbline Advisers’ holdings in Vertex were worth $2,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Vertex by 13.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 252,869 shares of the company’s stock valued at $6,812,000 after buying an additional 30,194 shares during the last quarter. Principal Financial Group Inc. lifted its position in Vertex by 164.0% during the fourth quarter. Principal Financial Group Inc. now owns 233,813 shares of the company’s stock worth $6,299,000 after buying an additional 145,246 shares during the period. Trexquant Investment LP boosted its stake in Vertex by 97.9% in the 4th quarter. Trexquant Investment LP now owns 52,134 shares of the company’s stock worth $1,404,000 after buying an additional 25,786 shares during the last quarter. Legacy Advisors LLC grew its holdings in Vertex by 1,517.0% in the 4th quarter. Legacy Advisors LLC now owns 3,244,871 shares of the company’s stock valued at $87,417,000 after buying an additional 3,044,193 shares during the period. Finally, Axiom Investors LLC DE acquired a new position in shares of Vertex during the 4th quarter valued at about $9,253,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

Vertex Stock Up 0.7 %

NASDAQ VERX opened at $36.38 on Thursday. Vertex, Inc. has a fifty-two week low of $20.62 and a fifty-two week high of $40.05. The stock has a market cap of $5.66 billion, a PE ratio of 909.50, a P/E/G ratio of 10.40 and a beta of 0.69. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The business has a 50 day moving average price of $36.94 and a two-hundred day moving average price of $33.79.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The firm had revenue of $161.10 million during the quarter, compared to analyst estimates of $160.66 million. During the same quarter last year, the firm earned $0.04 EPS. Vertex’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that Vertex, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $37.27, for a total transaction of $5,922,203.00. Following the completion of the transaction, the insider now directly owns 1,430,100 shares of the company’s stock, valued at approximately $53,299,827. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Vertex news, Director John Richard Stamm sold 16,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total value of $575,200.00. Following the sale, the director now directly owns 21,635 shares of the company’s stock, valued at $777,778.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 158,900 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $37.27, for a total value of $5,922,203.00. Following the completion of the sale, the insider now owns 1,430,100 shares in the company, valued at $53,299,827. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,699,900 shares of company stock worth $64,107,653. Insiders own 45.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on VERX. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. Citigroup lifted their target price on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of Vertex in a research note on Thursday, June 13th. Robert W. Baird initiated coverage on Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, JMP Securities boosted their target price on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Four research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.30.

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.