RiverPark Advisors LLC Sells 3,208 Shares of Vertex, Inc. (NASDAQ:VERX)

RiverPark Advisors LLC reduced its position in Vertex, Inc. (NASDAQ:VERX) by 25.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC bought a new position in shares of Vertex during the third quarter valued at $194,000. KBC Group NV increased its stake in shares of Vertex by 46.1% in the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after buying an additional 662 shares in the last quarter. Geneva Capital Management LLC increased its stake in shares of Vertex by 40.1% in the third quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after buying an additional 414,945 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Vertex by 406.9% in the third quarter. Victory Capital Management Inc. now owns 34,386 shares of the company’s stock valued at $1,324,000 after buying an additional 27,602 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of Vertex in the third quarter valued at $365,000. 59.10% of the stock is owned by institutional investors.

Vertex Trading Down 0.7 %

NASDAQ:VERX opened at $49.10 on Friday. Vertex, Inc. has a fifty-two week low of $23.31 and a fifty-two week high of $52.93. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $7.64 billion, a PE ratio of 272.78, a price-to-earnings-growth ratio of 9.22 and a beta of 0.67. The business’s 50-day simple moving average is $41.46 and its 200-day simple moving average is $37.38.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. BMO Capital Markets raised their target price on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Baird R W upgraded Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their price objective on Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday. JMP Securities lifted their price objective on Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus lifted 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.30.

Insider Buying and Selling at Vertex

In other Vertex news, major shareholder Jeffrey Westphal sold 2,485,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $48.90, for a total transaction of $121,516,500.00. Following the transaction, the insider now owns 7,895 shares of the company’s stock, valued at $386,065.50. The trade was a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total value of $895,250.00. Following the transaction, 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. In the last quarter, insiders have sold 4,149,374 shares of company stock worth $187,345,650. Corporate insiders own 44.58% of the company’s stock.

About Vertex

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.