nVerses Capital LLC Takes $208,000 Position in Vertex, Inc. (NASDAQ:VERX)

nVerses Capital LLC purchased a new stake in Vertex, Inc. (NASDAQ:VERX) during the third quarter, Holdings Channel reports. The institutional investor purchased 5,400 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VERX. Vanguard Group Inc. raised its position in shares of Vertex by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock valued at $149,673,000 after buying an additional 637,075 shares during the last quarter. Toth Financial Advisory Corp acquired a new stake in Vertex during the first quarter worth about $628,000. Cannon Global Investment Management LLC acquired a new position in Vertex in the 1st quarter valued at about $673,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Vertex during the 1st quarter valued at approximately $12,043,000. Finally, Principal Financial Group Inc. lifted its holdings in Vertex by 25.6% in the first quarter. Principal Financial Group Inc. now owns 293,760 shares of the company’s stock valued at $9,330,000 after acquiring an additional 59,947 shares during the last quarter. 59.10% of the stock is owned by hedge funds and other institutional investors.

Vertex Price Performance

VERX stock opened at $42.85 on Friday. The business has a 50 day moving average price of $37.94 and a 200 day moving average price of $35.26. 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 stock has a market cap of $6.65 billion, a price-to-earnings ratio of 1,071.25, a PEG ratio of 11.74 and a beta of 0.68. Vertex, Inc. has a fifty-two week low of $21.92 and a fifty-two week high of $43.13.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $161.10 million for the quarter, compared to analysts’ expectations of $160.66 million. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Equities research analysts anticipate that Vertex, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VERX has been the topic of a number of recent analyst reports. Robert W. Baird started coverage on shares of Vertex in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. Citigroup lifted their target price on shares of Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Baird R W upgraded Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, JMP Securities lifted their price objective on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research note 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.30.

Insider Activity

In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of Vertex stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $37.81, for a total value of $56,715,000.00. Following the transaction, the insider now directly owns 1,054,641 shares in the company, valued at approximately $39,875,976.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director John Richard Stamm sold 16,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the completion of the transaction, the director now directly owns 21,635 shares of the company’s stock, valued at $777,778.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Jeffrey Westphal sold 1,500,000 shares of Vertex stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $37.81, for a total value of $56,715,000.00. Following the completion of the sale, the insider now directly owns 1,054,641 shares in the company, valued at $39,875,976.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,129,244 shares of company stock valued at $120,754,589. 45.00% of the stock is currently owned by company insiders.

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.