Pier Capital LLC Has $8.91 Million Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Pier Capital LLC raised its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,390 shares of the company’s stock after buying an additional 4,195 shares during the period. Vertex comprises about 1.3% of Pier Capital LLC’s investment portfolio, making the stock its 18th biggest holding. Pier Capital LLC owned 0.15% of Vertex worth $8,911,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in Vertex by 36.4% in the third quarter. State Street Corp now owns 1,361,901 shares of the company’s stock worth $52,447,000 after buying an additional 363,595 shares during the last quarter. Petrus Trust Company LTA lifted its position in shares of Vertex by 51.2% in the third quarter. Petrus Trust Company LTA now owns 14,893 shares of the company’s stock worth $574,000 after buying an additional 5,041 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Vertex in the third quarter worth about $531,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Vertex by 18.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,530 shares of the company’s stock worth $5,373,000 after acquiring an additional 22,228 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Vertex by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 31,489 shares of the company’s stock valued at $1,213,000 after acquiring an additional 17,743 shares during the last quarter. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VERX shares. JMP Securities boosted their target price on Vertex from $47.00 to $61.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC raised their target price on shares of Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of Vertex from $42.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets upped their price target on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Three equities research 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 company’s stock. According to MarketBeat, Vertex has an average rating of “Moderate Buy” and an average price target of $52.30.

Vertex Trading Up 0.6 %

Shares of VERX opened at $56.31 on Friday. The stock’s 50-day moving average price is $46.76 and its 200 day moving average price is $39.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 312.83, a P/E/G ratio of 10.59 and a beta of 0.77. Vertex, Inc. has a 12-month low of $23.31 and a 12-month high of $57.74.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $170.40 million for the quarter, compared to analysts’ expectations of $165.70 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Vertex’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 earnings per share. As a group, research analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current year.

Insider Activity

In other Vertex news, Director John Richard Stamm sold 2,500 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $53.81, for a total value of $134,525.00. Following the sale, the director now directly owns 15,535 shares in the company, valued at $835,938.35. This represents a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Destefano sold 159,107 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $49.61, for a total value of $7,893,298.27. Following the transaction, the chief executive officer now owns 332,290 shares of the company’s stock, valued at $16,484,906.90. This represents a 32.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,202,949 shares of company stock worth $192,797,340. 44.58% of the stock is currently owned by corporate insiders.

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.