Vertex, Inc. (NASDAQ:VERX) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P reduced its position in shares of Vertex, Inc. (NASDAQ:VERX) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,565,994 shares of the company’s stock after selling 35,921 shares during the quarter. Loomis Sayles & Co. L P owned 1.01% of Vertex worth $60,307,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of VERX. Blue Trust Inc. purchased a new position in Vertex during the second quarter worth approximately $28,000. Quest Partners LLC acquired a new position in shares of Vertex during the 2nd quarter worth approximately $37,000. Advisors Asset Management Inc. lifted its position in shares of Vertex by 126.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company’s stock valued at $37,000 after buying an additional 540 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Vertex in the 2nd quarter valued at $40,000. Finally, Amalgamated Bank acquired a new stake in Vertex in the 2nd quarter valued at $68,000. 59.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex news, major shareholder Jeffrey Westphal sold 1,225,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $39.42, for a total value of $48,289,500.00. Following the completion of the transaction, the insider now owns 7,895 shares of the company’s stock, valued at $311,220.90. This trade represents a 99.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 40,966 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $52.16, for a total value of $2,136,786.56. Following the completion of the sale, the insider now owns 1,389,134 shares in the company, valued at approximately $72,457,229.44. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,171,822 shares of company stock valued at $191,086,808 over the last ninety days. Company insiders own 44.58% of the company’s stock.

Analysts Set New Price Targets

VERX has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded shares of Vertex from a “hold” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Stifel Nicolaus upped their price target on shares of Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley lifted their price objective on Vertex from $50.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Needham & Company LLC boosted their price objective on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their target price on Vertex from $42.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.30.

Vertex Price Performance

NASDAQ:VERX opened at $53.83 on Monday. Vertex, Inc. has a one year low of $23.31 and a one year high of $54.50. The stock has a market cap of $8.40 billion, a PE ratio of 299.06, a P/E/G ratio of 10.10 and a beta of 0.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $43.09 and a 200 day moving average price of $38.22.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $170.40 million during the quarter, compared to the consensus estimate of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the company earned $0.06 EPS. Equities research analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

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.