Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Vertex, Inc. (NASDAQ:VERX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 33.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,953 shares of the company’s stock after purchasing an additional 2,228 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Vertex were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC boosted its stake in shares of Vertex by 19.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,832,620 shares of the company’s stock worth $76,311,000 after buying an additional 452,840 shares during the last quarter. Comerica Bank acquired a new stake in shares of Vertex during the 3rd quarter worth approximately $4,763,000. Invesco Ltd. increased its holdings in shares of Vertex by 85.7% during the 3rd quarter. Invesco Ltd. now owns 425,192 shares of the company’s stock valued at $9,822,000 after purchasing an additional 196,169 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Vertex by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,918,733 shares of the company’s stock valued at $113,623,000 after purchasing an additional 264,884 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Vertex by 1,195.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 222,675 shares of the company’s stock worth $5,144,000 after buying an additional 205,489 shares in the last quarter. 59.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Vertex from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. The Goldman Sachs Group increased their price target on Vertex from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Vertex in a research report on Monday. Jefferies Financial Group increased their target price on Vertex from $27.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Bank of America dropped their price target on shares of Vertex from $40.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Vertex Trading Up 3.6 %

Shares of VERX opened at $30.30 on Tuesday. Vertex, Inc. has a 52-week low of $17.59 and a 52-week high of $35.38. The stock has a market cap of $4.68 billion, a PE ratio of -303.00, a price-to-earnings-growth ratio of 7.54 and a beta of 0.65. The firm’s fifty day moving average is $30.16 and its two-hundred day moving average is $27.34. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.17.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $154.91 million for the quarter, compared to analyst estimates of $146.44 million. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. Research analysts forecast that Vertex, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Vertex

In other Vertex news, CAO Lisa Butler sold 8,290 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $29.63, for a total value of $245,632.70. Following the completion of the sale, the chief accounting officer now directly owns 250 shares in the company, valued at approximately $7,407.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Item Second Irr. Trust Fbo Ann sold 26,609 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $33.62, for a total value of $894,594.58. Following the transaction, the insider now directly owns 1,338,465 shares in the company, valued at $44,999,193.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lisa Butler sold 8,290 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $29.63, for a total value of $245,632.70. Following the sale, the chief accounting officer now directly owns 250 shares of the company’s stock, valued at approximately $7,407.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,161,048 shares of company stock valued at $35,034,678. 45.00% of the stock is currently owned by insiders.

Vertex Company 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.