18,103 Shares in Vertex, Inc. (NASDAQ:VERX) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in Vertex, Inc. (NASDAQ:VERX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,103 shares of the company’s stock, valued at approximately $697,000.

Several other large investors have also modified their holdings of VERX. Blue Trust Inc. acquired a new stake in shares of Vertex during the second quarter worth $28,000. Quest Partners LLC purchased a new position in Vertex in the 2nd quarter worth about $37,000. Advisors Asset Management Inc. raised its holdings in Vertex by 126.2% during 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. Canada Pension Plan Investment Board acquired a new position in shares of Vertex in the second quarter worth about $40,000. Finally, Amalgamated Bank acquired a new position in shares of Vertex in the second quarter worth about $68,000. 59.10% of the stock is owned by institutional investors.

Vertex Trading Down 1.6 %

NASDAQ:VERX opened at $54.25 on Friday. The company has a market capitalization of $8.46 billion, a P/E ratio of 301.39, a P/E/G ratio of 10.30 and a beta of 0.67. The stock’s 50 day moving average price is $44.20 and its 200 day moving average price is $38.66. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. Vertex, Inc. has a 52 week low of $23.31 and a 52 week high of $55.52.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business had revenue of $170.40 million for the quarter, compared to the consensus estimate of $165.70 million. During the same quarter last year, the firm earned $0.06 EPS. Vertex’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, research analysts forecast that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $50.00 in a research report on Monday, November 4th. Robert W. Baird increased their target price on Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley lifted their price target on Vertex from $50.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Stifel Nicolaus increased their price objective on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.30.

Insiders Place Their Bets

In other news, General Counsel Bryan T.R. Rowland sold 3,020 shares of Vertex stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $55.08, for a total value of $166,341.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Jeffrey Westphal sold 2,485,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $48.90, for a total transaction of $121,516,500.00. Following the sale, the insider now directly owns 7,895 shares of the company’s stock, valued at approximately $386,065.50. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,202,949 shares of company stock valued at $192,797,340 over the last quarter. 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.