Vertex, Inc. (NASDAQ:VERX) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 29.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 216,545 shares of the company’s stock after buying an additional 49,679 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Vertex were worth $4,223,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of VERX. Ensign Peak Advisors Inc acquired a new position in shares of Vertex during the 1st quarter worth approximately $33,000. Deutsche Bank AG acquired a new position in Vertex in the 4th quarter valued at $41,000. Lazard Asset Management LLC acquired a new position in Vertex in the 4th quarter valued at $46,000. Tower Research Capital LLC TRC raised its holdings in Vertex by 100.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,571 shares of the company’s stock valued at $49,000 after acquiring an additional 1,789 shares during the last quarter. Finally, State of Wyoming acquired a new position in Vertex in the 4th quarter valued at $49,000. 28.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VERX has been the subject of several analyst reports. BMO Capital Markets boosted their price target on Vertex from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Friday, November 10th. The Goldman Sachs Group boosted their price objective on shares of Vertex from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Needham & Company LLC boosted their price objective on shares of Vertex from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 10th. JMP Securities reissued a “market outperform” rating and set a $28.00 price objective on shares of Vertex in a research note on Monday, August 21st. Finally, Citigroup lowered their price objective on shares of Vertex from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Vertex presently has an average rating of “Moderate Buy” and an average target price of $27.11.

Vertex Stock Up 3.2 %

Shares of Vertex stock opened at $27.17 on Tuesday. The company has a fifty day moving average price of $23.31 and a 200 day moving average price of $21.50. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. Vertex, Inc. has a twelve month low of $11.92 and a twelve month high of $28.13. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -118.13, a price-to-earnings-growth ratio of 11.49 and a beta of 0.44.

Insider Buying and Selling

In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 4,682 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $27.35, for a total value of $128,052.70. Following the transaction, the insider now owns 2,184,318 shares in the company, valued at approximately $59,741,097.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Vertex news, major shareholder Tensile Capital Management Lp sold 60,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $23.36, for a total value of $1,401,600.00. Following the transaction, the insider now owns 5,806,717 shares in the company, valued at approximately $135,644,909.12. 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 4,682 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $27.35, for a total transaction of $128,052.70. Following the completion of the transaction, the insider now owns 2,184,318 shares in the company, valued at approximately $59,741,097.30. The disclosure for this sale can be found here. In the last three months, insiders sold 3,984,570 shares of company stock valued at $97,943,654. Company insiders own 45.00% of the company’s stock.

Vertex Profile

Vertex, Inc provides tax technology solutions for retail, communication, leasing, retail trade, wholesale trade, technology, and manufacturing industries in the United States and internationally. It offers tax determination, compliance and reporting, tax data management, document management, analytics and insights, pre-built integration, and industry-specific solutions.