Vertex, Inc. (NASDAQ:VERX) Shares Acquired by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC grew its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 25.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,755 shares of the company’s stock after acquiring an additional 1,575 shares during the period. Nicolet Advisory Services LLC’s holdings in Vertex were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VERX. Charles Schwab Investment Management Inc. grew its stake in Vertex by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 432,068 shares of the company’s stock valued at $16,639,000 after acquiring an additional 23,086 shares during the last quarter. Banco Santander S.A. grew its holdings in shares of Vertex by 4.1% during the third quarter. Banco Santander S.A. now owns 310,000 shares of the company’s stock worth $11,938,000 after buying an additional 12,127 shares in the last quarter. Brown Capital Management LLC acquired a new position in shares of Vertex in the third quarter valued at approximately $20,938,000. Intech Investment Management LLC acquired a new position in shares of Vertex in the third quarter valued at approximately $448,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares during the period. 59.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex

In other news, CEO David Destefano sold 22,275 shares of Vertex stock in a transaction on Monday, November 18th. The stock was sold at an average price of $49.55, for a total transaction of $1,103,726.25. Following the transaction, the chief executive officer now directly owns 293,246 shares in the company, valued at approximately $14,530,339.30. This trade represents a 7.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of Vertex stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $52.16, for a total value of $2,136,786.56. Following the transaction, the insider now directly owns 1,389,134 shares in the company, valued at approximately $72,457,229.44. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,171,822 shares of company stock worth $191,086,808. 44.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. BMO Capital Markets increased their price target on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $50.00 in a report on Monday, November 4th. Morgan Stanley upped their price target on shares of Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price objective on shares of Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.30.

Vertex Trading Up 0.7 %

NASDAQ:VERX opened at $53.83 on Monday. 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 cap of $8.40 billion, a PE ratio of 299.06, a P/E/G ratio of 10.10 and a beta of 0.67. Vertex, Inc. has a 52 week low of $23.31 and a 52 week high of $54.50. The business’s 50 day moving average is $43.09 and its two-hundred day moving average is $38.22.

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