11,533 Shares in Vertex, Inc. (NASDAQ:VERX) Purchased by SG Americas Securities LLC

SG Americas Securities LLC acquired a new position in shares of Vertex, Inc. (NASDAQ:VERX) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,533 shares of the company’s stock, valued at approximately $444,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in Vertex during the 2nd quarter worth about $28,000. Quest Partners LLC purchased a new stake in Vertex during the 2nd quarter worth about $37,000. Canada Pension Plan Investment Board acquired a new stake in Vertex in the 2nd quarter worth about $40,000. Amalgamated Bank acquired a new stake in Vertex in the 2nd quarter worth about $68,000. Finally, Sandia Investment Management LP acquired a new stake in Vertex in the 1st quarter worth about $159,000. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Vertex Stock Performance

NASDAQ VERX opened at $42.71 on Thursday. The firm has a market capitalization of $6.64 billion, a P/E ratio of 355.92, a P/E/G ratio of 11.74 and a beta of 0.68. Vertex, Inc. has a 1-year low of $21.92 and a 1-year high of $42.80. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. The business’s 50-day simple moving average is $37.49 and its 200-day simple moving average is $35.05.

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

Insider Buying and Selling

In related news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the transaction, the insider now directly owns 932,706 shares of the company’s stock, valued at approximately $38,026,423.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the transaction, the insider now directly owns 932,706 shares of the company’s stock, valued at approximately $38,026,423.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,129,244 shares of company stock valued at $120,754,589. Corporate insiders own 44.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Robert W. Baird assumed 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. Baird R W raised Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Citigroup raised their price target on 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 raised their price target on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.30.

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.