Westwind Capital Buys 147,650 Shares of Vertex, Inc. (NASDAQ:VERX)

Westwind Capital raised its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,502 shares of the company's stock after acquiring an additional 147,650 shares during the period. Vertex comprises approximately 2.9% of Westwind Capital's investment portfolio, making the stock its 16th largest holding. Westwind Capital owned 0.21% of Vertex worth $11,711,000 as of its most recent filing with the Securities and Exchange Commission.

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

Vertex Stock Up 1.5%

VERX stock opened at $34.49 on Friday. 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 has a market capitalization of $5.47 billion, a PE ratio of -118.93, a PEG ratio of 4.22 and a beta of 0.75. Vertex, Inc. has a twelve month low of $30.26 and a twelve month high of $60.71. The stock has a 50-day simple moving average of $38.22 and a two-hundred day simple moving average of $43.19.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data 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 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 analyst estimates of $176.99 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Vertex's revenue was up 12.9% on a year-over-year basis. On average, equities analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex news, insider Jeffrey Westphal sold 3,000,000 shares of the business's stock in a transaction that occurred 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 owns 7,895 shares in the company, valued at approximately $303,562.75. The trade was a 99.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the business'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 value of $508,337.00. Following the completion of the sale, the insider now owns 173,074 shares of the company's stock, valued at $6,099,127.76. The trade was a 7.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,520,170 shares of company stock worth $134,479,744 in the last quarter. 43.25% of the stock is owned by insiders.

Analyst Ratings Changes

VERX has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their target price on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Morgan Stanley lowered their target price on Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group lowered their target price on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Needham & Company LLC reiterated a "buy" rating and set a $60.00 target price on shares of Vertex in a research note on Thursday, March 20th. Finally, Piper Sandler initiated coverage on Vertex in a research note on Monday, June 16th. They set an "overweight" rating and a $48.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $50.50.

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.

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