Cetera Investment Advisers Purchases 925 Shares of Vertex, Inc. $VERX

Cetera Investment Advisers raised its position in Vertex, Inc. (NASDAQ:VERX) by 12.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,570 shares of the company’s stock after purchasing an additional 925 shares during the period. Cetera Investment Advisers’ holdings in Vertex were worth $300,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in Vertex by 61.8% during the fourth quarter. Wells Fargo & Company MN now owns 34,380 shares of the company’s stock worth $1,834,000 after buying an additional 13,135 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Vertex during the fourth quarter worth about $595,000. MetLife Investment Management LLC grew its holdings in shares of Vertex by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 33,275 shares of the company’s stock worth $1,775,000 after purchasing an additional 1,786 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Vertex by 75.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,734 shares of the company’s stock worth $199,000 after purchasing an additional 1,604 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Vertex by 233.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 851,127 shares of the company’s stock valued at $45,409,000 after purchasing an additional 596,077 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Insider Activity at Vertex

In related news, insider Jeffrey Westphal sold 3,000,000 shares of Vertex stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $38.45, for a total transaction of $115,350,000.00. Following the sale, the insider directly owned 7,895 shares in the company, valued at $303,562.75. The trade was a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $35.24, for a total value of $508,337.00. Following the completion of the transaction, the insider owned 173,074 shares of the company’s stock, valued at approximately $6,099,127.76. This trade represents a 7.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,405,000 shares of company stock worth $130,136,108 over the last 90 days. 43.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup raised shares of Vertex from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. BMO Capital Markets reiterated a “market perform” rating on shares of Vertex in a research report on Thursday, August 7th. Bank of America lowered their price target on Vertex from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 8th. DA Davidson lowered Vertex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. Finally, Piper Sandler began coverage on Vertex in a report on Monday, June 16th. They issued an “overweight” rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.69.

Vertex Stock Down 2.0%

NASDAQ VERX opened at $25.21 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. Vertex, Inc. has a 1 year low of $24.45 and a 1 year high of $60.71. The stock has a market capitalization of $4.02 billion, a PE ratio of -76.39, a PEG ratio of 5.33 and a beta of 0.70. The business’s 50-day moving average is $33.01 and its 200 day moving average is $37.37.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $184.56 million for the quarter, compared to analysts’ expectations of $184.60 million. Vertex had a negative net margin of 7.09% and a positive return on equity of 27.16%. Vertex’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. Sell-side analysts forecast that Vertex, Inc. will post 0.38 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.