Vertex, Inc. $VERX Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA decreased its stake in shares of Vertex, Inc. (NASDAQ:VERX) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 818,645 shares of the company’s stock after selling 125,425 shares during the quarter. Banque Pictet & Cie SA’s holdings in Vertex were worth $16,348,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Vertex by 9.0% in the third quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company’s stock valued at $207,917,000 after buying an additional 689,143 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Vertex by 231.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock worth $88,448,000 after buying an additional 2,490,097 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Vertex by 9.2% during the 3rd quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company’s stock worth $67,640,000 after buying an additional 229,774 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Vertex by 76.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock worth $53,584,000 after acquiring an additional 937,905 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its position in shares of Vertex by 19.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,049,490 shares of the company’s stock worth $50,807,000 after acquiring an additional 340,680 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Stock Up 1.7%

NASDAQ:VERX opened at $12.09 on Thursday. The firm has a market capitalization of $1.93 billion, a PE ratio of 302.33, a price-to-earnings-growth ratio of 1.42 and a beta of 0.80. The stock has a 50 day moving average of $14.42 and a 200-day moving average of $19.15. Vertex, Inc. has a 52 week low of $11.25 and a 52 week high of $42.44. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30.

Vertex (NASDAQ:VERX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $194.71 million for the quarter, compared to analysts’ expectations of $194.33 million. Vertex had a return on equity of 24.70% and a net margin of 0.96%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Buying and Selling

In other news, insider Jeffrey Westphal purchased 150,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was purchased at an average cost of $12.53 per share, with a total value of $1,879,500.00. Following the purchase, the insider owned 397,740 shares in the company, valued at $4,983,682.20. This trade represents a 60.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric C. Andersen purchased 40,000 shares of the stock in a transaction dated Friday, February 20th. The shares were purchased at an average price of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the transaction, the director owned 150,341 shares in the company, valued at $1,940,902.31. This trade represents a 36.25% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 437,740 shares of company stock valued at $5,636,339 over the last 90 days. 43.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BMO Capital Markets dropped their price target on Vertex from $22.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. UBS Group set a $25.00 price objective on shares of Vertex in a report on Thursday, February 12th. Needham & Company LLC decreased their price objective on shares of Vertex from $30.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. The Goldman Sachs Group lowered their target price on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, Morgan Stanley set a $20.00 target price on shares of Vertex in a report on Thursday, February 12th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.07.

About Vertex

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.