Vertex, Inc. (NASDAQ:VERX) Stock Position Lifted by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG grew its position in Vertex, Inc. (NASDAQ:VERX) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,410 shares of the company’s stock after acquiring an additional 1,400 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Vertex were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. bought a new stake in Vertex during the second quarter valued at $28,000. Quest Partners LLC acquired a new position in shares of Vertex in the 2nd quarter valued at about $37,000. Canada Pension Plan Investment Board bought a new stake in shares of Vertex during the 2nd quarter valued at about $40,000. Amalgamated Bank acquired a new stake in Vertex during the second quarter worth about $68,000. Finally, Sandia Investment Management LP bought a new position in Vertex in the first quarter worth about $159,000. 59.10% of the stock is owned by institutional investors and hedge funds.

Vertex Stock Performance

Shares of VERX opened at $42.11 on Wednesday. The firm has a market capitalization of $6.53 billion, a PE ratio of 1,052.75, a P/E/G ratio of 12.25 and a beta of 0.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average price of $38.19 and a 200 day moving average price of $35.43. Vertex, Inc. has a 52-week low of $21.92 and a 52-week high of $43.33.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $160.66 million. During the same period last year, the firm posted $0.04 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts anticipate that Vertex, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VERX has been the subject of several recent research reports. JMP Securities upped their target price on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Baird R W raised Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup raised their target price on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Finally, Robert W. Baird started coverage on shares of Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.30.

Insider Activity

In other news, Director John Richard Stamm sold 16,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the sale, the director now owns 21,635 shares in the company, valued at $777,778.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director John Richard Stamm sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the sale, the director now directly owns 21,635 shares in the company, valued at $777,778.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $41.02, for a total transaction of $2,162,287.26. Following the sale, the insider now directly owns 1,144,993 shares of the company’s stock, valued at approximately $46,967,612.86. This 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 1,629,244 shares of company stock worth $64,039,589. 45.00% of the stock is owned by company insiders.

Vertex 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.