Verdence Capital Advisors LLC Buys 477 Shares of Vertex, Inc. (NASDAQ:VERX)

Verdence Capital Advisors LLC raised its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,313 shares of the company’s stock after acquiring an additional 477 shares during the period. Verdence Capital Advisors LLC’s holdings in Vertex were worth $320,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of VERX. Ellsworth Advisors LLC grew its holdings in shares of Vertex by 4.4% in the third quarter. Ellsworth Advisors LLC now owns 16,707 shares of the company’s stock valued at $643,000 after acquiring an additional 697 shares in the last quarter. Blue Trust Inc. bought a new position in Vertex in the 2nd quarter valued at $28,000. Quest Partners LLC bought a new position in Vertex in the 2nd quarter valued at $37,000. Canada Pension Plan Investment Board purchased a new stake in shares of Vertex during the 2nd quarter valued at $40,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Vertex by 13.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,788 shares of the company’s stock worth $377,000 after purchasing an additional 1,168 shares during the period. 59.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VERX has been the subject of several research reports. The Goldman Sachs Group increased their price target on shares of Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BMO Capital Markets increased their target price on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $50.00 in a research note on Monday, November 4th. Finally, JMP Securities raised their target price on Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex has a consensus rating of “Moderate Buy” and an average target price of $51.22.

Vertex Stock Performance

Shares of VERX opened at $49.75 on Wednesday. Vertex, Inc. has a 52-week low of $23.31 and a 52-week high of $52.93. The stock’s 50-day simple moving average is $40.62 and its 200 day simple moving average is $37.00. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.17 and a current ratio of 1.04. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 276.39, a price-to-earnings-growth ratio of 14.86 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The firm had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Research analysts forecast that Vertex, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Item Second Irr. Trust Fbo Jac sold 8,485 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $49.50, for a total value of $420,007.50. Following the transaction, the insider now owns 782,706 shares of the company’s stock, valued at approximately $38,743,947. This represents 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 the SEC website. In related news, Director John Richard Stamm sold 16,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now directly owns 21,635 shares in the company, valued at approximately $777,778.25. The trade was 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 accessible through the SEC website. Also, insider Item Second Irr. Trust Fbo Jac sold 8,485 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $49.50, for a total value of $420,007.50. Following the sale, the insider now owns 782,706 shares in the company, valued at $38,743,947. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,664,374 shares of company stock worth $65,829,150 in the last three months. 44.58% of the stock is currently owned by corporate insiders.

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.