Handelsbanken Fonder AB Buys 3,200 Shares of Vertex, Inc. (NASDAQ:VERX)

Handelsbanken Fonder AB raised its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 37.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,700 shares of the company’s stock after purchasing an additional 3,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Vertex were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. bought a new position in shares of Vertex during the 2nd quarter valued at about $28,000. Quest Partners LLC purchased a new stake in Vertex in the second quarter worth approximately $37,000. Canada Pension Plan Investment Board bought a new position in Vertex during the second quarter valued at approximately $40,000. Amalgamated Bank purchased a new position in shares of Vertex during the second quarter worth approximately $68,000. Finally, Sandia Investment Management LP bought a new stake in shares of Vertex in the 1st quarter worth approximately $159,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Vertex Stock Performance

NASDAQ:VERX opened at $41.09 on Tuesday. 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 firm’s fifty day simple moving average is $37.39 and its 200 day simple moving average is $34.99. The stock has a market cap of $6.37 billion, a P/E ratio of 1,027.25, a price-to-earnings-growth ratio of 11.33 and a beta of 0.68. Vertex, Inc. has a twelve month low of $21.92 and a twelve month high of $42.38.

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

Wall Street Analysts Forecast Growth

VERX has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. JMP Securities increased their target price on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird started coverage on Vertex in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Vertex presently has an average rating of “Moderate Buy” and an average price target of $37.30.

Insider Buying and Selling

In other news, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $41.02, for a total transaction of $2,162,287.26. Following the sale, the insider now owns 1,144,993 shares in the company, valued at approximately $46,967,612.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $41.02, for a total transaction of $2,162,287.26. Following the completion of the transaction, the insider now owns 1,144,993 shares of the company’s stock, valued at approximately $46,967,612.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total value of $895,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,104 shares in the company, valued at approximately $1,901,654.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,026,727 shares of company stock valued at $116,588,340 over the last ninety days. Company insiders own 45.00% of the company’s stock.

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.