Arizona State Retirement System Buys 1,822 Shares of Vertex, Inc. (NASDAQ:VERX)

Arizona State Retirement System grew its stake in shares of Vertex, Inc. (NASDAQ:VERXFree Report) by 15.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,802 shares of the company’s stock after acquiring an additional 1,822 shares during the period. Arizona State Retirement System’s holdings in Vertex were worth $319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sterling Investment Advisors Ltd. grew its position in shares of Vertex by 2.6% during the 3rd quarter. Sterling Investment Advisors Ltd. now owns 33,067 shares of the company’s stock valued at $764,000 after acquiring an additional 852 shares during the period. Meridian Wealth Partners LLC bought a new position in shares of Vertex during the 3rd quarter valued at approximately $2,907,000. Principal Financial Group Inc. grew its position in shares of Vertex by 131.1% during the 3rd quarter. Principal Financial Group Inc. now owns 88,567 shares of the company’s stock valued at $2,046,000 after acquiring an additional 50,239 shares during the period. Kornitzer Capital Management Inc. KS bought a new position in shares of Vertex during the 3rd quarter valued at approximately $863,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Vertex during the 3rd quarter valued at approximately $49,000. 28.31% of the stock is owned by institutional investors.

Insider Transactions at Vertex

In other news, major shareholder Jeffery Westphal sold 1,899,025 shares of Vertex stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $26.06, for a total transaction of $49,488,591.50. Following the completion of the sale, the insider now directly owns 7,895 shares of the company’s stock, valued at approximately $205,743.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Jeffery Westphal sold 1,899,025 shares of Vertex stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $26.06, for a total transaction of $49,488,591.50. Following the completion of the sale, the insider now directly owns 7,895 shares of the company’s stock, valued at approximately $205,743.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John R. Schwab sold 25,000 shares of Vertex stock in a transaction on Monday, December 18th. The stock was sold at an average price of $26.55, for a total transaction of $663,750.00. Following the sale, the chief financial officer now directly owns 23,316 shares of the company’s stock, valued at $619,039.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,276,497 shares of company stock valued at $60,074,108. Insiders own 45.00% of the company’s stock.

Vertex Stock Up 2.8 %

Shares of NASDAQ:VERX opened at $26.58 on Friday. The firm has a fifty day moving average price of $26.15 and a two-hundred day moving average price of $24.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.55 and a quick ratio of 0.55. Vertex, Inc. has a one year low of $13.80 and a one year high of $30.00. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -115.57, a PEG ratio of 6.67 and a beta of 0.50.

Vertex (NASDAQ:VERXGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Vertex had a negative net margin of 6.15% and a positive return on equity of 13.30%. The firm had revenue of $145.03 million during the quarter, compared to the consensus estimate of $142.05 million. Analysts anticipate that Vertex, Inc. will post 0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Raymond James increased their target price on shares of Vertex from $24.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. The Goldman Sachs Group raised their price objective on shares of Vertex from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 10th. BMO Capital Markets raised their price objective on shares of Vertex from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Friday, November 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Vertex in a report on Tuesday, January 16th. Finally, Citigroup cut their price objective on shares of Vertex from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

Get Our Latest Analysis on Vertex

Vertex Company Profile

(Free Report)

Vertex, Inc provides tax technology solutions for retail, communication, leasing, retail trade, wholesale trade, technology, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, analytics and insights, pre-built integration, and industry-specific solutions.

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Institutional Ownership by Quarter for Vertex (NASDAQ:VERX)

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