Quantbot Technologies LP Has $1.88 Million Position in Vertex, Inc. (NASDAQ:VERX)

Quantbot Technologies LP increased its position in shares of Vertex, Inc. (NASDAQ:VERX) by 119,107.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,875 shares of the company’s stock after acquiring an additional 48,834 shares during the period. Quantbot Technologies LP’s holdings in Vertex were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VERX. Banque Pictet & Cie SA raised its stake in Vertex by 551.9% during the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock worth $34,231,000 after acquiring an additional 803,881 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Vertex during the 2nd quarter worth approximately $22,173,000. Brown Capital Management LLC bought a new position in Vertex in the 3rd quarter valued at approximately $20,938,000. Premier Fund Managers Ltd boosted its position in Vertex by 787.0% in the third quarter. Premier Fund Managers Ltd now owns 524,775 shares of the company’s stock valued at $19,280,000 after buying an additional 465,610 shares in the last quarter. Finally, Geneva Capital Management LLC grew its stake in shares of Vertex by 40.1% during 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 during the last quarter. 59.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VERX has been the topic of several recent research reports. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Morgan Stanley lifted their price target on Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JMP Securities raised their price target 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 raised their target price on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their price target on Vertex from $45.00 to $60.00 and gave the company a “buy” 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.30.

Vertex Price Performance

Vertex stock opened at $54.25 on Friday. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $55.52. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $8.46 billion, a PE ratio of 301.39, a PEG ratio of 10.18 and a beta of 0.67. The firm’s fifty day moving average is $44.54 and its 200 day moving average is $38.77.

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

Insider Buying and Selling

In other Vertex news, Director John Richard Stamm sold 2,500 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $53.81, for a total value of $134,525.00. Following the transaction, the director now owns 15,535 shares of the company’s stock, valued at approximately $835,938.35. The trade was a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Jeffrey Westphal sold 1,225,000 shares of Vertex 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 completion of the sale, the insider now directly owns 7,895 shares in the company, valued at $311,220.90. This trade represents a 99.36 % 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 worth $192,797,340 in the last ninety days. Corporate insiders own 44.58% of the company’s stock.

About Vertex

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.