Nicolet Advisory Services LLC Buys 1,575 Shares of Vertex, Inc. (NASDAQ:VERX)

Nicolet Advisory Services LLC raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 25.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,755 shares of the company’s stock after buying an additional 1,575 shares during the period. Nicolet Advisory Services LLC’s holdings in Vertex were worth $323,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Vertex by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 432,068 shares of the company’s stock worth $16,639,000 after purchasing an additional 23,086 shares during the period. Banco Santander S.A. raised its holdings in shares of Vertex by 4.1% in the third quarter. Banco Santander S.A. now owns 310,000 shares of the company’s stock valued at $11,938,000 after acquiring an additional 12,127 shares in the last quarter. Brown Capital Management LLC purchased a new stake in Vertex in the third quarter worth about $20,938,000. Intech Investment Management LLC bought a new position in Vertex during the 3rd quarter worth about $448,000. Finally, Advisors Asset Management Inc. increased its position in 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 purchasing an additional 540 shares during the period. Institutional investors own 59.10% of the company’s stock.

Vertex Trading Up 0.7 %

Shares of NASDAQ:VERX opened at $53.83 on Monday. Vertex, Inc. has a 1 year low of $23.31 and a 1 year high of $54.50. 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 business’s 50 day moving average price is $43.09 and its 200-day moving average price is $38.22. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 299.06, a price-to-earnings-growth ratio of 10.10 and a beta of 0.67.

Vertex (NASDAQ:VERX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company had revenue of $170.40 million for the quarter, compared to analyst estimates of $165.70 million. During the same quarter last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on VERX. Needham & Company LLC upped their target price on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JMP Securities lifted their price objective on shares of Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Morgan Stanley upped their target price on Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Robert W. Baird increased their price target on Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets raised their target price on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Three equities research 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.30.

Insider Activity at Vertex

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $41.02, for a total value of $2,162,287.26. Following the transaction, the insider now directly owns 1,144,993 shares in the company, valued at $46,967,612.86. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Jeffrey Westphal sold 1,225,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $39.42, for a total transaction of $48,289,500.00. Following the sale, the insider now owns 7,895 shares of the company’s stock, valued at $311,220.90. This represents a 99.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,171,822 shares of company stock valued at $191,086,808. 44.58% of the stock is currently owned by 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.