Cibc World Markets Corp Buys Shares of 5,078 Vertex, Inc. (NASDAQ:VERX)

Cibc World Markets Corp purchased a new position in Vertex, Inc. (NASDAQ:VERX) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 5,078 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank grew its position in Vertex by 7.3% during the fourth quarter. Swiss National Bank now owns 115,700 shares of the company’s stock valued at $6,173,000 after buying an additional 7,900 shares during the period. Avantax Advisory Services Inc. raised its holdings in Vertex by 6.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 14,959 shares of the company’s stock valued at $798,000 after acquiring an additional 929 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Vertex in the fourth quarter valued at approximately $1,792,000. AGF Management Ltd. purchased a new stake in Vertex in the 4th quarter valued at $9,421,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vertex by 53.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,551 shares of the company’s stock valued at $830,000 after acquiring an additional 5,411 shares during the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex

In other news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the completion of the transaction, the insider now directly owns 1,229,257 shares of the company’s stock, valued at $69,428,435.36. This trade represents a 4.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the completion of the transaction, the general counsel now directly owns 132 shares of the company’s stock, valued at approximately $4,749.36. This trade represents a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VERX has been the subject of several analyst reports. DA Davidson lowered their price objective on Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus lowered shares of Vertex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $58.00 to $31.00 in a research note on Friday, February 28th. Jefferies Financial Group cut their price target on Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Robert W. Baird lowered their price target on shares of Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $61.00 price objective on shares of Vertex in a report on Monday, December 9th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.82.

Vertex Stock Up 0.5 %

Vertex stock opened at $35.54 on Wednesday. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 197.44, a PEG ratio of 6.66 and a beta of 0.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average of $45.64 and a two-hundred day moving average of $46.52. Vertex, Inc. has a twelve month low of $27.22 and a twelve month high of $60.71.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The firm had revenue of $178.46 million for the quarter, compared to analyst estimates of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. As a group, research analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

Vertex 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.