Vertex, Inc. (NASDAQ:VERX) Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its stake in Vertex, Inc. (NASDAQ:VERX - Free Report) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,064,773 shares of the company's stock after acquiring an additional 72,116 shares during the quarter. TimesSquare Capital Management LLC owned about 0.67% of Vertex worth $37,278,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in Vertex in the 1st quarter worth $28,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Vertex during the fourth quarter valued at about $38,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Vertex during the fourth quarter worth about $40,000. Lazard Asset Management LLC increased its position in shares of Vertex by 7,675.0% during the fourth quarter. Lazard Asset Management LLC now owns 2,488 shares of the company's stock worth $132,000 after acquiring an additional 2,456 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Vertex by 1,719.4% in the first quarter. GAMMA Investing LLC now owns 5,076 shares of the company's stock worth $178,000 after acquiring an additional 4,797 shares in the last quarter. Institutional investors and hedge funds own 70.32% of the company's stock.

Insider Activity at Vertex

In related news, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $35.24, for a total transaction of $508,337.00. Following the transaction, the insider owned 173,074 shares in the company, valued at $6,099,127.76. This trade represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan J. Leib sold 5,755 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was 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. Corporate insiders own 43.25% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VERX shares. DA Davidson dropped their target price on shares of Vertex from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Citigroup increased their target price on Vertex from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Wednesday. BNP Paribas initiated 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. Morgan Stanley lowered their target price on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler started coverage on shares of Vertex in a research report on Monday, June 16th. They issued an "overweight" rating and a $48.00 price target on the stock. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.33.

Vertex Stock Performance

Shares of NASDAQ VERX traded up $0.51 during midday trading on Wednesday, hitting $35.45. 725,500 shares of the company's stock were exchanged, compared to its average volume of 1,056,863. Vertex, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71. The firm has a market cap of $5.62 billion, a P/E ratio of -122.24, a PEG ratio of 4.50 and a beta of 0.71. The stock's 50 day moving average price is $37.30 and its 200-day moving average price is $41.62. 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 (NASDAQ:VERX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Vertex had a positive return on equity of 28.14% and a negative net margin of 6.45%. The company had revenue of $177.06 million during the quarter, compared to analysts' expectations of $176.99 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts anticipate 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.