Verdence Capital Advisors LLC Acquires 1,134 Shares of Vertex, Inc. (NASDAQ:VERX)

Verdence Capital Advisors LLC lifted its holdings in Vertex, Inc. (NASDAQ:VERX) by 16.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,836 shares of the company’s stock after buying an additional 1,134 shares during the period. Verdence Capital Advisors LLC’s holdings in Vertex were worth $282,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. grew its holdings in Vertex by 1.2% during the 1st 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 during the last quarter. Blue Trust Inc. bought a new position in Vertex during the 2nd quarter valued at about $28,000. Ellsworth Advisors LLC grew its holdings in Vertex by 6.6% during the 2nd quarter. Ellsworth Advisors LLC now owns 16,010 shares of the company’s stock valued at $577,000 after purchasing an additional 992 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Vertex by 33.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,953 shares of the company’s stock valued at $241,000 after purchasing an additional 2,228 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Vertex by 6.3% during the 1st quarter. California State Teachers Retirement System now owns 46,115 shares of the company’s stock valued at $1,465,000 after purchasing an additional 2,719 shares during the last quarter. 59.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VERX has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Vertex in a report on Thursday, June 13th. Robert W. Baird assumed coverage on shares of Vertex in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Citigroup upped their target price on shares of Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Finally, JMP Securities upped their price target on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Insider Buying and Selling

In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of Vertex stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $32.93, for a total value of $49,395,000.00. Following the completion of the transaction, the insider now owns 2,554,641 shares of the company’s stock, valued at $84,124,328.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the transaction, the chief financial officer now directly owns 53,104 shares in the company, valued at $1,901,654.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jeffrey Westphal sold 1,500,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $32.93, for a total transaction of $49,395,000.00. Following the transaction, the insider now owns 2,554,641 shares in the company, valued at $84,124,328.13. The disclosure for this sale can be found here. Insiders sold a total of 3,041,000 shares of company stock valued at $107,580,450 over the last 90 days. Insiders own 45.00% of the company’s stock.

Vertex Trading Up 1.4 %

NASDAQ:VERX opened at $37.58 on Tuesday. Vertex, Inc. has a 12 month low of $20.48 and a 12 month high of $40.05. The firm has a fifty day simple moving average of $36.54 and a 200-day simple moving average of $32.62. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $5.84 billion, a P/E ratio of 939.50, a PEG ratio of 10.24 and a beta of 0.69.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping 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 business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex, Inc. will post 0.34 earnings per share for the current year.

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.