Vertex, Inc. (NASDAQ:VERX) Shares Purchased by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG raised its stake in Vertex, Inc. (NASDAQ:VERX) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities & 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 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $40.77, for a total value of $2,300,202.63. Following the completion of the sale, the insider now owns 932,706 shares of the company’s stock, valued at $38,026,423.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $40.77, for a total value of $2,300,202.63. Following the transaction, the insider now owns 932,706 shares in the company, valued at $38,026,423.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John R. Schwab sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total value of $895,250.00. Following the sale, the chief financial officer now owns 53,104 shares of the company’s stock, valued at $1,901,654.24. 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 valued at $64,039,589. Corporate insiders own 45.00% of the company’s stock.

Analyst Upgrades and Downgrades

VERX has been the topic of a number of recent analyst reports. Robert W. Baird initiated coverage on Vertex in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price target on the stock. Citigroup raised their price target on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. JMP Securities upped their price objective on shares of Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 31st. Finally, Baird R W raised shares of Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four 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 has a consensus rating of “Moderate Buy” and a consensus price target of $37.30.

Vertex Price Performance

VERX opened at $42.11 on Wednesday. Vertex, Inc. has a 52-week low of $21.92 and a 52-week high of $43.33. The company has a 50 day moving average of $38.19 and a two-hundred day moving average of $35.43. The company has a market cap of $6.53 billion, a P/E 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.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share 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 for the quarter, compared to analyst estimates of $160.66 million. During the same quarter in the previous year, the business posted $0.04 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts expect that Vertex, Inc. will post 0.34 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.