Vertex, Inc. (NASDAQ:VERX) Stock Position Raised by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its position in shares of Vertex, Inc. (NASDAQ:VERX) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,115 shares of the company’s stock after buying an additional 2,999 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned approximately 0.05% of Vertex worth $3,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Vertex by 13.0% during the 4th quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company’s stock worth $149,673,000 after acquiring an additional 637,075 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in Vertex during the first quarter worth approximately $628,000. Cannon Global Investment Management LLC acquired a new position in Vertex during the first quarter valued at approximately $673,000. Allspring Global Investments Holdings LLC acquired a new position in Vertex during the first quarter valued at approximately $12,043,000. Finally, Principal Financial Group Inc. raised its position in shares of Vertex by 25.6% in the first quarter. Principal Financial Group Inc. now owns 293,760 shares of the company’s stock valued at $9,330,000 after purchasing an additional 59,947 shares during the period. Institutional investors own 59.10% of the company’s stock.

Vertex Stock Performance

NASDAQ:VERX opened at $42.91 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average price of $38.09 and a 200 day moving average price of $35.36. The firm has a market capitalization of $6.67 billion, a PE ratio of 357.58, a price-to-earnings-growth ratio of 12.25 and a beta of 0.68. Vertex, Inc. has a 12-month low of $21.92 and a 12-month high of $43.33.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The business had revenue of $161.10 million during the quarter, compared to the consensus estimate of $160.66 million. During the same quarter last year, the company earned $0.04 EPS. Vertex’s revenue was up 15.3% on a year-over-year basis. Research analysts anticipate that Vertex, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex news, CFO John R. Schwab sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $35.81, for a total transaction of $895,250.00. Following the sale, the chief financial officer now directly owns 53,104 shares of the company’s stock, valued at approximately $1,901,654.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO John R. Schwab sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.81, for a total value of $895,250.00. Following the transaction, the chief financial officer now directly owns 53,104 shares of the company’s stock, valued at $1,901,654.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Richard Stamm sold 16,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total value of $575,200.00. Following the sale, the director now owns 21,635 shares in the company, valued at $777,778.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,629,244 shares of company stock worth $64,039,589 in the last quarter. 44.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VERX shares. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird started coverage on Vertex in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Citigroup boosted their price objective on Vertex from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Finally, JMP Securities raised their target price on Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

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.