Fiera Capital Corp Buys New Holdings in Vertex, Inc. (NASDAQ:VERX)

Fiera Capital Corp bought a new stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 782,599 shares of the company's stock, valued at approximately $27,399,000. Fiera Capital Corp owned about 0.49% of Vertex as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Summit Creek Advisors LLC purchased a new position in Vertex in the first quarter worth $3,308,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Vertex by 22.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,082 shares of the company's stock valued at $668,000 after buying an additional 3,531 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Vertex by 57.4% during the 1st quarter. TD Asset Management Inc now owns 61,668 shares of the company's stock valued at $2,159,000 after buying an additional 22,494 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Vertex during the 1st quarter valued at $97,000. Finally, Assetmark Inc. lifted its position in shares of Vertex by 2,140.3% during the 1st quarter. Assetmark Inc. now owns 33,269 shares of the company's stock valued at $1,165,000 after buying an additional 31,784 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VERX shares. Piper Sandler started coverage on Vertex in a research report on Monday, June 16th. They set an "overweight" rating and a $48.00 price target on the stock. BNP Paribas started coverage on Vertex in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target on the stock. Citigroup upped their price target on Vertex from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Morgan Stanley dropped their price target on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, DA Davidson upgraded Vertex to a "strong-buy" rating in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.33.

Insider Transactions at Vertex

In related news, CEO David Destefano sold 109,415 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $37.70, for a total transaction of $4,124,945.50. Following the completion of the sale, the chief executive officer directly owned 1,066,587 shares in the company, valued at $40,210,329.90. This represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ryan J. Leib sold 5,755 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $38.00, for a total value of $218,690.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,520,170 shares of company stock valued at $134,479,744 over the last quarter. 43.25% of the stock is owned by company insiders.

Vertex Stock Performance

Shares of NASDAQ:VERX traded down $0.87 during midday trading on Friday, reaching $32.30. 1,145,947 shares of the company traded hands, compared to its average volume of 1,248,951. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of -111.38, a price-to-earnings-growth ratio of 4.15 and a beta of 0.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.67. The firm's fifty day moving average price is $36.46 and its two-hundred day moving average price is $40.21. Vertex, Inc. has a 12 month low of $30.26 and a 12 month high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. The business had revenue of $177.06 million for the quarter, compared to analyst estimates of $176.99 million. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. On average, equities analysts expect that Vertex, Inc. will post 0.38 earnings per share for the current year.

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.