Quantbot Technologies LP Acquires 48,834 Shares of Vertex, Inc. (NASDAQ:VERX)

Quantbot Technologies LP grew its holdings in Vertex, Inc. (NASDAQ:VERX) by 119,107.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 48,875 shares of the company’s stock after buying an additional 48,834 shares during the quarter. Quantbot Technologies LP’s holdings in Vertex were worth $1,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Vertex by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock worth $183,929,000 after purchasing an additional 235,407 shares in the last quarter. FMR LLC increased its position in shares of Vertex by 2.5% during the third quarter. FMR LLC now owns 2,287,774 shares of the company’s stock valued at $88,102,000 after buying an additional 54,985 shares during the period. Geneva Capital Management LLC lifted its holdings 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 worth $55,863,000 after buying an additional 414,945 shares in the last quarter. Banque Pictet & Cie SA boosted its position in shares of Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after acquiring an additional 803,881 shares during the period. Finally, William Blair Investment Management LLC grew its stake in Vertex by 8.1% during the second quarter. William Blair Investment Management LLC now owns 782,715 shares of the company’s stock valued at $28,217,000 after acquiring an additional 58,678 shares in the last quarter. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $39.42, for a total value of $48,289,500.00. Following the transaction, the insider now owns 7,895 shares in the company, valued at approximately $311,220.90. The trade was a 99.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Item Second Irr. Trust Fbo Jac sold 52,713 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $46,967,612.86. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,202,949 shares of company stock valued at $192,797,340 over the last three months. 44.58% of the stock is owned by company insiders.

Vertex Stock Performance

VERX stock opened at $54.25 on Friday. Vertex, Inc. has a one year low of $23.31 and a one year high of $55.52. The company has a market capitalization of $8.46 billion, a PE ratio of 301.39, a price-to-earnings-growth ratio of 10.18 and a beta of 0.67. The company’s 50 day moving average price is $44.54 and its two-hundred day moving average price is $38.77. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $170.40 million for the quarter, compared to analysts’ expectations of $165.70 million. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. As a group, analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VERX. Stifel Nicolaus increased their target price on shares of Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JMP Securities upped their target price on Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. BMO Capital Markets raised their price target on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird upped their price objective on shares of Vertex from $43.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex currently has a consensus rating of “Moderate Buy” and an average price target of $52.30.

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.