RiverPark Advisors LLC Buys 11,990 Shares of Vertex, Inc. (NASDAQ:VERX)

RiverPark Advisors LLC increased its stake in Vertex, Inc. (NASDAQ:VERX) by 361.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,309 shares of the company’s stock after purchasing an additional 11,990 shares during the period. RiverPark Advisors LLC’s holdings in Vertex were worth $486,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Vertex by 13.0% in the fourth quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock valued at $149,673,000 after buying an additional 637,075 shares in the last quarter. Legacy Advisors LLC boosted its stake in Vertex by 1,517.0% in the fourth quarter. Legacy Advisors LLC now owns 3,244,871 shares of the company’s stock valued at $87,417,000 after buying an additional 3,044,193 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Vertex by 19.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,832,620 shares of the company’s stock valued at $76,311,000 after buying an additional 452,840 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in Vertex by 9.6% in the third quarter. TimesSquare Capital Management LLC now owns 1,444,930 shares of the company’s stock valued at $33,378,000 after buying an additional 126,230 shares in the last quarter. Finally, Granahan Investment Management LLC boosted its stake in Vertex by 49.4% in the fourth quarter. Granahan Investment Management LLC now owns 663,606 shares of the company’s stock valued at $17,878,000 after buying an additional 219,301 shares in the last quarter. 59.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VERX has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Vertex in a research note on Thursday, June 13th. Citigroup lifted their price target on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. JMP Securities reissued a “market outperform” rating and set a $42.00 price target on shares of Vertex in a research note on Tuesday, April 23rd. Finally, Bank of America cut their price target on Vertex from $40.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.11.

Vertex Trading Up 0.1 %

Shares of VERX traded up $0.05 during mid-day trading on Tuesday, reaching $35.91. 904,438 shares of the company were exchanged, compared to its average volume of 787,856. Vertex, Inc. has a 52 week low of $17.59 and a 52 week high of $36.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $5.57 billion, a PE ratio of 897.75, a PEG ratio of 18.27 and a beta of 0.69. The business has a 50 day simple moving average of $33.51 and a two-hundred day simple moving average of $29.82.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Vertex had a return on equity of 18.67% and a net margin of 1.29%. The company had revenue of $156.78 million for the quarter, compared to the consensus estimate of $155.50 million. On average, analysts predict that Vertex, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Vertex

In other Vertex news, major shareholder Jeffrey Westphal sold 1,500,000 shares of Vertex stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $32.93, for a total value of $49,395,000.00. Following the completion of the sale, the insider now directly owns 2,554,641 shares in the company, valued at $84,124,328.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 45.00% of the stock is owned by corporate 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.