Moody National Bank Trust Division Purchases 5,000 Shares of Vertex, Inc. (NASDAQ:VERX)

Moody National Bank Trust Division grew its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 19.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,369 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. Moody National Bank Trust Division’s holdings in Vertex were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Legacy Advisors LLC grew its holdings in Vertex by 1,517.0% in the 4th 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. Pembroke Management LTD lifted its position in shares of Vertex by 255.3% during the 1st quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock worth $29,446,000 after buying an additional 666,223 shares during the last quarter. Vanguard Group Inc. increased its holdings in Vertex by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock worth $149,673,000 after purchasing an additional 637,075 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Vertex by 19.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,832,620 shares of the company’s stock worth $76,311,000 after purchasing an additional 452,840 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Vertex in the 1st quarter worth about $12,043,000. 59.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Vertex in a research note on Thursday, June 13th. Bank of America dropped their target price on Vertex from $40.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Baird R W upgraded Vertex to a “strong-buy” rating in a report on Tuesday, July 23rd. JMP Securities lifted their price target on Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird began coverage on Vertex in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Insiders Place Their Bets

In related news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $37.81, for a total value of $56,715,000.00. Following the sale, the insider now owns 1,054,641 shares in the company, valued at approximately $39,875,976.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 45.00% of the company’s stock.

Vertex Price Performance

NASDAQ:VERX traded down $0.95 during trading hours on Monday, hitting $36.21. 880,983 shares of the company’s stock traded hands, compared to its average volume of 796,254. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $35.86 and its two-hundred day simple moving average is $31.39. Vertex, Inc. has a 52 week low of $17.59 and a 52 week high of $40.05. The firm has a market cap of $5.62 billion, a P/E ratio of 905.25, a P/E/G ratio of 18.92 and a beta of 0.69.

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

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.