Bank Pictet & Cie Europe AG Purchases 20,940 Shares of Vertex, Inc. (NASDAQ:VERX)

Bank Pictet & Cie Europe AG raised its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 85.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,500 shares of the company's stock after acquiring an additional 20,940 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Vertex were worth $1,593,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new stake in Vertex during the 4th quarter valued at approximately $38,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Vertex in the 4th quarter worth approximately $40,000. Plato Investment Management Ltd bought a new stake in shares of Vertex in the 4th quarter worth approximately $41,000. Versant Capital Management Inc bought a new stake in shares of Vertex in the 1st quarter worth approximately $28,000. Finally, Assetmark Inc. bought a new stake in shares of Vertex in the 4th quarter worth approximately $79,000. 70.32% of the stock is owned by institutional investors.

Vertex Stock Performance

VERX stock opened at $36.92 on Monday. The stock has a market capitalization of $5.85 billion, a PE ratio of 205.11, a price-to-earnings-growth ratio of 6.66 and a beta of 0.75. Vertex, Inc. has a 12-month low of $30.26 and a 12-month high of $60.71. 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's 50 day simple moving average is $38.89 and its 200 day simple moving average is $44.44.

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, beating analysts' consensus estimates of $0.13 by $0.02. The business had revenue of $177.06 million during the quarter, compared to analyst estimates of $176.99 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 EPS. As a group, research analysts forecast that Vertex, Inc. will post 0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Robert W. Baird dropped their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. BNP Paribas assumed coverage on Vertex in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $54.00 price target on the stock. Jefferies Financial Group dropped their price target on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. DA Davidson dropped their price target on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price target on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $50.73.

Insider Buying and Selling at Vertex

In other news, insider Jeffrey Westphal sold 3,000,000 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $38.45, for a total value of $115,350,000.00. Following the completion of the sale, the insider now directly owns 7,895 shares in the company, valued at $303,562.75. This represents a 99.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company'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 sale, the general counsel now owns 132 shares of the company's stock, valued at $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. In the last ninety days, insiders sold 3,158,398 shares of company stock worth $121,248,979. Insiders own 43.25% of the company's stock.

About Vertex

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.

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