Vertex, Inc. (NASDAQ:VERX) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in Vertex, Inc. (NASDAQ:VERX) by 22.1% in the third quarter, HoldingsChannel.com reports. The firm owned 509,517 shares of the company’s stock after buying an additional 92,137 shares during the quarter. New York State Common Retirement Fund’s holdings in Vertex were worth $19,621,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Vertex during the first quarter valued at approximately $12,043,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Vertex by 13.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,036 shares of the company’s stock valued at $2,161,000 after purchasing an additional 8,309 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Vertex in the first quarter valued at approximately $166,000. Oppenheimer Asset Management Inc. grew its position in shares of Vertex by 1.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 51,624 shares of the company’s stock valued at $1,640,000 after purchasing an additional 589 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its position in shares of Vertex by 2.3% in the first quarter. TimesSquare Capital Management LLC now owns 1,386,848 shares of the company’s stock valued at $44,046,000 after purchasing an additional 30,523 shares in the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.

Insider Activity

In other news, CFO John R. Schwab sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction 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 $1,901,654.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertex news, Director John Richard Stamm sold 16,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the transaction, the director now owns 21,635 shares of the company’s stock, valued at $777,778.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John R. Schwab sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total transaction of $895,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,104 shares in the company, valued at $1,901,654.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,629,244 shares of company stock worth $64,039,589 over the last ninety days. Corporate insiders own 44.58% of the company’s stock.

Vertex Trading Up 0.1 %

VERX stock opened at $42.23 on Tuesday. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 351.92, a PEG ratio of 11.86 and a beta of 0.67. 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 fifty day simple moving average of $39.26 and a 200-day simple moving average of $36.14. Vertex, Inc. has a 52 week low of $21.92 and a 52 week high of $43.75.

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 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 the consensus estimate of $160.66 million. During the same period in the prior year, the firm earned $0.04 EPS. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts expect that Vertex, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VERX. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $50.00 in a research report on Monday. JMP Securities increased their price objective on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Baird R W upgraded Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Robert W. Baird started coverage on Vertex in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex presently has an average rating of “Moderate Buy” and an average target price of $38.80.

Vertex 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.