AlphaQuest LLC Purchases 4,364 Shares of Vertex, Inc. (NASDAQ:VERX)

AlphaQuest LLC raised its position in Vertex, Inc. (NASDAQ:VERX) by 96.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,893 shares of the company’s stock after purchasing an additional 4,364 shares during the period. AlphaQuest LLC’s holdings in Vertex were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in VERX. Advisors Asset Management Inc. raised its position in shares of Vertex by 126.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Vertex during the 4th quarter valued at $38,000. Plato Investment Management Ltd purchased a new stake in shares of Vertex during the 4th quarter valued at $41,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Vertex during the 4th quarter valued at $50,000. Finally, Assetmark Inc. purchased a new stake in shares of Vertex during the 4th quarter valued at $79,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Wall Street Analysts Forecast Growth

VERX has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. DA Davidson decreased their target price on shares of Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. JMP Securities reiterated a “market outperform” rating and issued a $61.00 target price on shares of Vertex in a research report on Monday, December 9th. Morgan Stanley lifted their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Raymond James reiterated a “market perform” rating on shares of Vertex in a research report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Vertex Price Performance

Shares of Vertex stock opened at $33.99 on Thursday. The firm has a market cap of $5.30 billion, a PE ratio of 188.83, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87. Vertex, Inc. has a 12-month low of $27.22 and a 12-month high of $60.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $49.17 and its two-hundred day simple moving average is $46.68.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $178.46 million during the quarter, compared to the consensus estimate of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. As a group, equities analysts expect that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Activity

In other news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the sale, the insider now owns 1,229,257 shares of the company’s stock, valued at approximately $69,428,435.36. The trade was a 4.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 44.58% of the company’s stock.

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.