Sterling Investment Advisors Ltd. Sells 1,347 Shares of Vertex, Inc. (NASDAQ:VERX)

Sterling Investment Advisors Ltd. lowered its position in shares of Vertex, Inc. (NASDAQ:VERX) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,720 shares of the company’s stock after selling 1,347 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Vertex were worth $1,222,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of VERX. Vanguard Group Inc. raised its stake in Vertex by 4.2% during the first quarter. Vanguard Group Inc. now owns 5,791,215 shares of the company’s stock valued at $183,929,000 after buying an additional 235,407 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in Vertex by 2.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,386,848 shares of the company’s stock worth $44,046,000 after purchasing an additional 30,523 shares in the last quarter. Banque Pictet & Cie SA grew its position in Vertex by 551.9% during the 2nd quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company’s stock valued at $34,231,000 after purchasing an additional 803,881 shares during the last quarter. Pembroke Management LTD increased its stake in Vertex by 255.3% during the 1st quarter. Pembroke Management LTD now owns 927,129 shares of the company’s stock valued at $29,446,000 after purchasing an additional 666,223 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Vertex by 8.1% in the second quarter. William Blair Investment Management LLC now owns 782,715 shares of the company’s stock worth $28,217,000 after buying an additional 58,678 shares in the last quarter. Institutional investors own 59.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on VERX shares. Robert W. Baird began coverage on Vertex in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Baird R W upgraded shares of Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, JMP Securities boosted their price objective on shares of Vertex from $42.00 to $47.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Vertex presently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

Insider Activity at Vertex

In other Vertex news, Director John Richard Stamm sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total transaction of $575,200.00. Following the sale, the director now directly owns 21,635 shares in the company, valued at $777,778.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director John Richard Stamm sold 16,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total value of $575,200.00. Following the sale, the director now owns 21,635 shares of the company’s stock, valued at approximately $777,778.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $40.77, for a total transaction of $2,300,202.63. Following the transaction, the insider now directly owns 932,706 shares of the company’s stock, valued at approximately $38,026,423.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,629,244 shares of company stock valued at $64,039,589. Insiders own 45.00% of the company’s stock.

Vertex Price Performance

NASDAQ VERX traded up $0.05 during trading hours on Friday, reaching $42.07. The company’s stock had a trading volume of 348,739 shares, compared to its average volume of 766,524. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. Vertex, Inc. has a 1 year low of $21.92 and a 1 year high of $43.33. The firm’s 50-day moving average price is $38.54 and its 200-day moving average price is $35.61. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 1,051.75, a PEG ratio of 12.04 and a beta of 0.68.

Vertex (NASDAQ:VERX) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $161.10 million for the quarter, compared to the consensus estimate of $160.66 million. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. On average, equities research analysts predict that Vertex, Inc. will post 0.34 EPS for the current fiscal 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.