North Star Asset Management Inc. Purchases New Position in Vertex, Inc. (NASDAQ:VERX)

North Star Asset Management Inc. acquired a new stake in Vertex, Inc. (NASDAQ:VERX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 115,374 shares of the company's stock, valued at approximately $4,039,000. North Star Asset Management Inc. owned about 0.07% of Vertex as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. boosted its position in shares of Vertex by 28.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company's stock worth $2,887,000 after purchasing an additional 11,966 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Vertex by 3,751.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,087 shares of the company's stock worth $283,000 after purchasing an additional 7,877 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Vertex by 25.4% during the first quarter. Envestnet Asset Management Inc. now owns 224,762 shares of the company's stock worth $7,869,000 after purchasing an additional 45,494 shares in the last quarter. Norris Perne & French LLP MI bought a new position in shares of Vertex during the first quarter worth $8,203,000. Finally, Sei Investments Co. boosted its position in shares of Vertex by 9.4% during the fourth quarter. Sei Investments Co. now owns 86,284 shares of the company's stock worth $4,603,000 after purchasing an additional 7,430 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VERX. Piper Sandler began coverage on shares of 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 shares of Vertex in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson upgraded shares of Vertex to a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, Citigroup raised their price objective on shares of Vertex from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.33.

Insider Buying and Selling at Vertex

In other news, insider Jeffrey Westphal sold 3,000,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $38.45, for a total transaction of $115,350,000.00. Following the transaction, the insider directly owned 7,895 shares in the company, valued at $303,562.75. The trade was a 99.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ryan J. Leib sold 5,755 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.00, for a total transaction 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 currently owned by corporate insiders.

Vertex Stock Down 2.6%

VERX stock traded down $0.87 during midday trading on Friday, hitting $32.30. The company's stock had a trading volume of 1,145,947 shares, compared to its average volume of 1,248,951. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.98 and a quick ratio of 0.98. Vertex, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71. The company's fifty day moving average price is $36.46 and its 200 day moving average price is $40.21. The stock has a market capitalization of $5.12 billion, a P/E ratio of -111.38, a PEG ratio of 4.15 and a beta of 0.71.

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