RiverPark Advisors LLC Has $353,000 Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

RiverPark Advisors LLC trimmed its position in Vertex, Inc. (NASDAQ:VERX) by 25.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,163 shares of the company’s stock after selling 3,208 shares during the quarter. RiverPark Advisors LLC’s holdings in Vertex were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its holdings in Vertex by 6.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,313 shares of the company’s stock valued at $320,000 after buying an additional 477 shares in the last quarter. KBC Group NV lifted its position in shares of Vertex by 46.1% during the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after acquiring an additional 662 shares during the period. Ellsworth Advisors LLC lifted its position in shares of Vertex by 4.4% during the 3rd quarter. Ellsworth Advisors LLC now owns 16,707 shares of the company’s stock valued at $643,000 after acquiring an additional 697 shares during the period. Blue Trust Inc. bought a new stake in shares of Vertex during the 2nd quarter valued at $28,000. Finally, Quest Partners LLC bought a new stake in shares of Vertex during the 2nd quarter valued at $37,000. 59.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Needham & Company LLC upped their target price on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their price objective on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley upped their price objective on Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets increased their target price on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertex has an average rating of “Moderate Buy” and an average price target of $52.30.

Vertex Trading Down 0.7 %

Shares of Vertex stock opened at $49.10 on Friday. The stock has a fifty day simple moving average of $41.46 and a 200 day simple moving average of $37.38. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $52.93. The company has a market capitalization of $7.64 billion, a P/E ratio of 272.78, a price-to-earnings-growth ratio of 9.22 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Vertex’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, sell-side analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex

In other news, insider Item Second Irr. Trust Fbo Jac sold 8,485 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $49.50, for a total transaction of $420,007.50. Following the transaction, the insider now owns 782,706 shares of the company’s stock, valued at $38,743,947. This represents a 1.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John R. Schwab sold 25,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total value of $895,250.00. Following the sale, the chief financial officer now directly owns 53,104 shares in the company, valued at $1,901,654.24. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,149,374 shares of company stock worth $187,345,650 in the last quarter. 44.58% of the stock is currently 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.