Oppenheimer Asset Management Inc. Raises Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Oppenheimer Asset Management Inc. lifted its holdings in Vertex, Inc. (NASDAQ:VERXFree Report) by 13.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,235 shares of the company’s stock after purchasing an additional 7,046 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vertex were worth $1,415,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Premier Fund Managers Ltd purchased a new position in Vertex in the 3rd quarter worth $267,000. New York State Common Retirement Fund raised its stake in Vertex by 12.0% in the 3rd quarter. New York State Common Retirement Fund now owns 314,812 shares of the company’s stock worth $7,272,000 after acquiring an additional 33,741 shares during the last quarter. Barclays PLC raised its stake in Vertex by 43.4% in the 3rd quarter. Barclays PLC now owns 23,112 shares of the company’s stock worth $534,000 after acquiring an additional 6,994 shares during the last quarter. Arizona State Retirement System raised its stake in Vertex by 15.2% in the 3rd quarter. Arizona State Retirement System now owns 13,802 shares of the company’s stock worth $319,000 after acquiring an additional 1,822 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. raised its stake in Vertex by 2.6% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 33,067 shares of the company’s stock worth $764,000 after acquiring an additional 852 shares during the last quarter. Institutional investors and hedge funds own 28.31% of the company’s stock.

Vertex Stock Down 0.6 %

NASDAQ:VERX opened at $25.09 on Thursday. Vertex, Inc. has a 52 week low of $13.80 and a 52 week high of $30.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 0.55. The stock’s 50-day moving average price is $26.22 and its 200-day moving average price is $23.96.

Vertex (NASDAQ:VERXGet Free Report) last posted its earnings results on Thursday, November 9th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Vertex had a positive return on equity of 13.30% and a negative net margin of 6.15%. The firm had revenue of $145.03 million for the quarter, compared to analysts’ expectations of $142.05 million. Sell-side analysts predict that Vertex, Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Jeffery Westphal sold 1,899,025 shares of Vertex stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.06, for a total value of $49,488,591.50. Following the sale, the insider now directly owns 7,895 shares in the company, valued at approximately $205,743.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Jeffery Westphal sold 1,899,025 shares of Vertex stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $26.06, for a total value of $49,488,591.50. Following the sale, the insider now directly owns 7,895 shares in the company, valued at approximately $205,743.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Item Second Irr. Trust Fbo Jac sold 4,682 shares of Vertex stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $27.35, for a total value of $128,052.70. Following the completion of the sale, the insider now owns 2,184,318 shares in the company, valued at $59,741,097.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,276,497 shares of company stock worth $60,074,108. Insiders own 45.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets raised their target price on Vertex from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Friday, November 10th. Morgan Stanley lifted their price objective on Vertex from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Citigroup reduced their price objective on Vertex from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, January 12th. The Goldman Sachs Group lifted their price objective on Vertex from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Finally, William Blair reiterated an “outperform” rating on shares of Vertex in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vertex presently has an average rating of “Moderate Buy” and an average target price of $27.78.

View Our Latest Stock Report on VERX

Vertex Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vertex (NASDAQ:VERX)

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