5,078 Shares in Vertex, Inc. (NASDAQ:VERX) Bought by Cibc World Markets Corp

Cibc World Markets Corp bought a new stake in shares of Vertex, Inc. (NASDAQ:VERX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,078 shares of the company’s stock, valued at approximately $271,000.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in Vertex by 11.4% during the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock valued at $134,000 after acquiring an additional 257 shares during the period. Sheets Smith Wealth Management boosted its position in shares of Vertex by 2.2% during the fourth quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock valued at $806,000 after purchasing an additional 324 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Vertex by 126.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock worth $37,000 after buying an additional 540 shares during the period. KBC Group NV grew its holdings in Vertex by 27.1% in the fourth quarter. KBC Group NV now owns 2,668 shares of the company’s stock worth $142,000 after purchasing an additional 569 shares during the period. Finally, Ellsworth Advisors LLC grew its stake in shares of Vertex by 3.5% in the 4th quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock worth $922,000 after buying an additional 584 shares during the last quarter. 70.32% of the stock is owned by institutional investors.

Insider Activity at Vertex

In related news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the transaction, the general counsel now owns 132 shares of the company’s stock, valued at $4,749.36. This represents a 99.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total value of $3,041,052.64. Following the transaction, the insider now owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. 44.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $61.00 price target on shares of Vertex in a research report on Monday, December 9th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Vertex in a report on Thursday, March 20th. Robert W. Baird lowered their price objective on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. DA Davidson lowered their target price on Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Stifel Nicolaus downgraded shares of Vertex from a “buy” rating to a “hold” rating and lowered their price target for the company from $58.00 to $31.00 in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.82.

Vertex Trading Up 0.5 %

VERX stock opened at $35.54 on Wednesday. Vertex, Inc. has a fifty-two week low of $27.22 and a fifty-two week high of $60.71. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a fifty day moving average price of $45.64 and a 200 day moving average price of $46.52. The firm has a market cap of $5.62 billion, a PE ratio of 197.44, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The company had revenue of $178.46 million during the quarter, compared to the consensus estimate of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. Sell-side analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

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.