Vertex, Inc. (NASDAQ:VERX) Shares Purchased by Westwind Capital

Westwind Capital lifted its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 79.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 334,502 shares of the company's stock after purchasing an additional 147,650 shares during the quarter. Vertex comprises approximately 2.9% of Westwind Capital's portfolio, making the stock its 16th biggest position. Westwind Capital owned about 0.21% of Vertex worth $11,711,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in Vertex by 5.1% in the 4th quarter. Rhumbline Advisers now owns 79,675 shares of the company's stock valued at $4,251,000 after purchasing an additional 3,900 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Vertex by 6.8% in the fourth quarter. Handelsbanken Fonder AB now owns 12,500 shares of the company's stock valued at $667,000 after buying an additional 800 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Vertex by 36.3% in the fourth quarter. Bank of New York Mellon Corp now owns 234,274 shares of the company's stock valued at $12,499,000 after buying an additional 62,446 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Vertex during the fourth quarter worth $41,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in Vertex in the fourth quarter worth $38,000. 70.32% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertex

In related news, insider Jeffrey Westphal sold 3,000,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider owned 7,895 shares of the company's stock, valued at approximately $303,562.75. This represents a 99.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ryan J. Leib sold 5,755 shares of Vertex stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 worth $134,479,744 over the last ninety days. 43.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on VERX shares. Piper Sandler initiated coverage on shares of Vertex in a research report on Monday, June 16th. They set an "overweight" rating and a $48.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Vertex in a report on Thursday, March 20th. Morgan Stanley lowered their target price on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group reduced their price target on shares of Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, DA Davidson decreased their price target on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.50.

Vertex Trading Up 0.1%

Shares of NASDAQ:VERX traded up $0.05 during trading on Tuesday, reaching $35.38. The stock had a trading volume of 1,240,247 shares, compared to its average volume of 1,294,913. 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 stock has a market cap of $5.61 billion, a P/E ratio of -122.00, a PEG ratio of 4.29 and a beta of 0.76. The business has a fifty day moving average price of $38.16 and a 200-day moving average price of $42.91. Vertex, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $176.99 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. Vertex's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts anticipate that Vertex, Inc. will post 0.38 earnings per share 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.