Vertex, Inc. (NASDAQ:VERX) Holdings Lowered by Natixis Advisors LLC

Natixis Advisors LLC cut its stake in Vertex, Inc. (NASDAQ:VERX) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,697 shares of the company’s stock after selling 4,023 shares during the period. Natixis Advisors LLC’s holdings in Vertex were worth $1,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Vertex by 4.2% during the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock valued at $183,929,000 after purchasing an additional 235,407 shares during the last quarter. Geneva Capital Management LLC lifted its position in shares of Vertex by 40.1% during the 3rd quarter. Geneva Capital Management LLC now owns 1,450,599 shares of the company’s stock valued at $55,863,000 after acquiring an additional 414,945 shares during the last quarter. Banque Pictet & Cie SA lifted its position in shares of Vertex by 551.9% during the 2nd 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 last quarter. William Blair Investment Management LLC boosted its stake in shares of Vertex by 8.1% during the 2nd quarter. William Blair Investment Management LLC now owns 782,715 shares of the company’s stock worth $28,217,000 after acquiring an additional 58,678 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Vertex by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 668,178 shares of the company’s stock worth $24,088,000 after acquiring an additional 40,593 shares during the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.

Vertex Stock Up 0.5 %

VERX opened at $55.15 on Wednesday. The business has a 50 day moving average of $43.46 and a 200-day moving average of $38.39. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 306.39, a P/E/G ratio of 10.10 and a beta of 0.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a 1-year low of $23.31 and a 1-year high of $55.52.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $165.70 million. During the same period last year, the business posted $0.06 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VERX. Morgan Stanley raised their target price on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets raised their price objective on shares of Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. JMP Securities boosted their target price on shares of Vertex from $47.00 to $61.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their target price on Vertex from $41.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.30.

Insider Activity

In other news, major shareholder Jeffrey Westphal sold 2,485,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $48.90, for a total value of $121,516,500.00. Following the sale, the insider now owns 7,895 shares in the company, valued at approximately $386,065.50. The trade was a 99.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Item Second Irr. Trust Fbo Jac sold 8,485 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $49.50, for a total transaction of $420,007.50. Following the sale, the insider now owns 782,706 shares of the company’s stock, valued at $38,743,947. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,171,822 shares of company stock worth $191,086,808. Company insiders own 44.58% of the company’s stock.

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.