Spire Wealth Management Has $1.63 Million Stake in Vertex, Inc. (NASDAQ:VERX)

Spire Wealth Management reduced its position in shares of Vertex, Inc. (NASDAQ:VERX) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,500 shares of the company’s stock after selling 600 shares during the period. Spire Wealth Management’s holdings in Vertex were worth $1,627,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VERX. Advisors Asset Management Inc. raised its position in Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after purchasing an additional 540 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of Vertex during the fourth quarter worth $50,000. Blue Trust Inc. grew its stake in shares of Vertex by 191.1% during the third quarter. Blue Trust Inc. now owns 2,259 shares of the company’s stock worth $81,000 after buying an additional 1,483 shares during the last quarter. KBC Group NV grew its stake in shares of Vertex by 46.1% during the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after buying an additional 662 shares during the last quarter. Finally, Quest Partners LLC grew its stake in shares of Vertex by 344.5% during the third quarter. Quest Partners LLC now owns 4,529 shares of the company’s stock worth $174,000 after buying an additional 3,510 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Stock Performance

NASDAQ VERX opened at $57.51 on Tuesday. Vertex, Inc. has a 52-week low of $24.17 and a 52-week high of $60.00. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $8.97 billion, a P/E ratio of 319.50, a P/E/G ratio of 8.46 and a beta of 0.77. The company has a fifty day moving average of $54.70 and a 200-day moving average of $45.49.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share 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 net margin of 4.73% and a return on equity of 24.92%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. As a group, equities research analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VERX has been the topic of several analyst reports. Morgan Stanley boosted their price objective on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. DA Davidson initiated coverage on shares of Vertex in a report on Tuesday, December 31st. They issued a “buy” rating and a $62.00 target price on the stock. Robert W. Baird upped their target price on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their target price on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and upped their target price for the stock from $35.00 to $50.00 in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Insider Activity at Vertex

In related news, General Counsel Bryan T.R. Rowland sold 3,020 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $55.08, for a total transaction of $166,341.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Item Second Irr. Trust Fbo Jac sold 26,645 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $51.40, for a total transaction of $1,369,553.00. Following the transaction, the insider now owns 906,061 shares in the company, valued at approximately $46,571,535.40. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,632,062 shares of company stock worth $182,311,362 over the last 90 days. 44.58% 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.