Zurcher Kantonalbank Zurich Cantonalbank Has $241,000 Stake in Vertex, Inc. (NASDAQ:VERX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Vertex, Inc. (NASDAQ:VERX) by 33.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,953 shares of the company’s stock after buying an additional 2,228 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Vertex were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Vertex by 5.7% in the third quarter. Vanguard Group Inc. now owns 4,918,733 shares of the company’s stock valued at $113,623,000 after acquiring an additional 264,884 shares during the period. Fred Alger Management LLC increased its holdings in shares of Vertex by 9.5% during the third quarter. Fred Alger Management LLC now owns 4,651,701 shares of the company’s stock worth $107,454,000 after purchasing an additional 404,550 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of Vertex by 19.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,832,620 shares of the company’s stock worth $76,311,000 after purchasing an additional 452,840 shares during the period. Bryn Mawr Capital Management LLC raised its position in shares of Vertex by 0.3% in the third quarter. Bryn Mawr Capital Management LLC now owns 2,596,000 shares of the company’s stock valued at $59,968,000 after buying an additional 7,000 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Vertex by 9.6% in the third quarter. TimesSquare Capital Management LLC now owns 1,444,930 shares of the company’s stock valued at $33,378,000 after buying an additional 126,230 shares during the period. 59.10% of the stock is owned by institutional investors and hedge funds.

Vertex Stock Performance

Vertex stock opened at $30.30 on Tuesday. The business has a 50 day moving average of $30.16 and a 200-day moving average of $27.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60. Vertex, Inc. has a 1 year low of $17.59 and a 1 year high of $35.38. The company has a market capitalization of $4.68 billion, a P/E ratio of -303.00, a P/E/G ratio of 7.54 and a beta of 0.65.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. The firm had revenue of $154.91 million during the quarter, compared to the consensus estimate of $146.44 million. On average, equities research analysts predict that Vertex, Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VERX shares. BMO Capital Markets upped their target price on Vertex from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Vertex in a report on Monday. The Goldman Sachs Group lifted their price objective on shares of Vertex from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Bank of America cut their target price on Vertex from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $42.00 price target on shares of Vertex in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vertex currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Insiders Place Their Bets

In related news, Director John Richard Stamm sold 6,500 shares of Vertex stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.48, for a total value of $191,620.00. Following the transaction, the director now directly owns 15,930 shares of the company’s stock, valued at $469,616.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Vertex news, CAO Lisa Butler sold 8,290 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $29.63, for a total value of $245,632.70. Following the transaction, the chief accounting officer now directly owns 250 shares of the company’s stock, valued at $7,407.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Richard Stamm sold 6,500 shares of Vertex stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.48, for a total transaction of $191,620.00. Following the completion of the sale, the director now owns 15,930 shares of the company’s stock, valued at approximately $469,616.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,161,048 shares of company stock valued at $35,034,678. 45.00% of the stock is currently owned by company insiders.

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.