RiverPark Advisors LLC Has $486,000 Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

RiverPark Advisors LLC grew its position in Vertex, Inc. (NASDAQ:VERX) by 361.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,309 shares of the company’s stock after purchasing an additional 11,990 shares during the period. RiverPark Advisors LLC’s holdings in Vertex were worth $486,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Vertex in the 4th quarter valued at $72,000. F M Investments LLC bought a new position in shares of Vertex in the first quarter valued at about $209,000. Verdence Capital Advisors LLC bought a new position in shares of Vertex in the first quarter valued at about $213,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Vertex by 33.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,953 shares of the company’s stock valued at $241,000 after buying an additional 2,228 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in shares of Vertex in the fourth quarter valued at about $347,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

Vertex Trading Up 0.1 %

Shares of VERX stock traded up $0.05 on Tuesday, reaching $35.91. The company had a trading volume of 904,438 shares, compared to its average volume of 787,856. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5.57 billion, a PE ratio of 897.75, a PEG ratio of 18.27 and a beta of 0.69. The company has a 50-day moving average of $33.51 and a 200-day moving average of $29.82. Vertex, Inc. has a 12 month low of $17.59 and a 12 month high of $36.36.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $156.78 million during the quarter, compared to the consensus estimate of $155.50 million. Vertex had a net margin of 1.29% and a return on equity of 18.67%. On average, equities analysts forecast that Vertex, Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Vertex

In related news, major shareholder Jeffrey Westphal sold 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $32.93, for a total value of $49,395,000.00. Following the completion of the transaction, the insider now directly owns 2,554,641 shares in the company, valued at approximately $84,124,328.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 45.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VERX shares. Citigroup lifted their price target on Vertex from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, June 28th. JMP Securities reissued a “market outperform” rating and set a $42.00 price objective on shares of Vertex in a report on Tuesday, April 23rd. Bank of America dropped their price objective on Vertex from $40.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Vertex in a report on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.11.

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.