6,386 Shares in Vertex, Inc. (NASDAQ:VERX) Acquired by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado acquired a new stake in Vertex, Inc. (NASDAQ:VERX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,386 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Silvercrest Asset Management Group LLC grew its holdings in shares of Vertex by 13.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 712,926 shares of the company’s stock worth $22,643,000 after purchasing an additional 85,237 shares during the last quarter. Cannon Global Investment Management LLC purchased a new position in shares of Vertex during the first quarter worth approximately $673,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Vertex during the first quarter valued at approximately $12,043,000. Quadrature Capital Ltd boosted its holdings in shares of Vertex by 24.7% in the first quarter. Quadrature Capital Ltd now owns 92,167 shares of the company’s stock valued at $2,927,000 after purchasing an additional 18,258 shares during the period. Finally, Granahan Investment Management LLC grew its stake in Vertex by 49.4% in the fourth quarter. Granahan Investment Management LLC now owns 663,606 shares of the company’s stock worth $17,878,000 after purchasing an additional 219,301 shares in the last quarter. Hedge funds and other institutional investors own 59.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VERX. Robert W. Baird initiated coverage on Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Baird R W raised shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup upped their price target on shares of Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. JMP Securities lifted their price objective on shares of Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of Vertex in a report on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.30.

Insider Activity

In other Vertex news, Director John Richard Stamm sold 16,000 shares of Vertex stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total transaction of $575,200.00. Following the completion of the sale, the director now owns 21,635 shares of the company’s stock, valued at approximately $777,778.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $37.81, for a total transaction of $56,715,000.00. Following the completion of the transaction, the insider now directly owns 1,054,641 shares of the company’s stock, valued at approximately $39,875,976.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $575,200.00. Following the completion of the sale, the director now directly owns 21,635 shares in the company, valued at $777,778.25. The disclosure for this sale can be found here. Insiders have sold 1,699,900 shares of company stock valued at $64,107,653 over the last ninety days. 45.00% of the stock is currently owned by insiders.

Vertex Trading Down 0.7 %

Shares of NASDAQ:VERX opened at $36.73 on Friday. The business’s 50-day moving average is $36.93 and its 200 day moving average is $34.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.17 and a quick ratio of 1.17. Vertex, Inc. has a 1 year low of $21.50 and a 1 year high of $40.05. The firm has a market capitalization of $5.71 billion, a P/E ratio of 918.25, a P/E/G ratio of 10.68 and a beta of 0.69.

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

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.