Vertex, Inc. (NASDAQ:VERX) Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC lessened its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 25.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 256,399 shares of the company’s stock after selling 87,625 shares during the period. Mizuho Markets Americas LLC owned approximately 0.16% of Vertex worth $9,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in Vertex during the second quarter worth $28,000. Quest Partners LLC acquired a new position in Vertex during the second quarter worth $37,000. Canada Pension Plan Investment Board acquired a new position in Vertex during the second quarter worth $40,000. Amalgamated Bank acquired a new position in Vertex during the second quarter worth $68,000. Finally, KBC Group NV boosted its position in Vertex by 46.1% during the third quarter. KBC Group NV now owns 2,099 shares of the company’s stock worth $81,000 after purchasing an additional 662 shares in the last quarter. Institutional investors and hedge funds own 59.10% of the company’s stock.

Insiders Place Their Bets

In other Vertex news, major shareholder Jeffrey Westphal sold 2,485,000 shares of Vertex stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $48.90, for a total transaction of $121,516,500.00. Following the sale, the insider now directly owns 7,895 shares in the company, valued at $386,065.50. The trade was a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Richard Stamm sold 16,000 shares of Vertex stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total value of $575,200.00. Following the completion of the transaction, the director now owns 21,635 shares of the company’s stock, valued at approximately $777,778.25. The trade was a 42.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,149,374 shares of company stock worth $187,345,650 in the last three months. 44.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Needham & Company LLC boosted their target price on Vertex from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their target price on Vertex from $41.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. BMO Capital Markets boosted their target price on Vertex from $42.00 to $52.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Baird R W upgraded Vertex to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group upgraded Vertex from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $50.00 in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

Vertex Price Performance

VERX stock opened at $49.10 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. Vertex, Inc. has a 1 year low of $23.31 and a 1 year high of $52.93. The firm has a market cap of $7.64 billion, a P/E ratio of 272.78, a price-to-earnings-growth ratio of 9.28 and a beta of 0.67. The stock has a 50-day simple moving average of $41.46 and a 200-day simple moving average of $37.32.

Vertex (NASDAQ:VERX) last posted its earnings results 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. Vertex had a return on equity of 24.92% and a net margin of 4.73%. The business had revenue of $170.40 million during the quarter, compared to analyst estimates of $165.70 million. During the same quarter last year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts predict 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.