Conestoga Capital Advisors LLC Has $87.81 Million Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

Conestoga Capital Advisors LLC lowered its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 18.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,280,290 shares of the company's stock after selling 525,495 shares during the quarter. Conestoga Capital Advisors LLC owned about 1.47% of Vertex worth $87,814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Banque Pictet & Cie SA grew its holdings in Vertex by 551.9% in the second quarter. Banque Pictet & Cie SA now owns 949,540 shares of the company's stock valued at $34,231,000 after purchasing an additional 803,881 shares during the period. Pembroke Management LTD increased its holdings in shares of Vertex by 255.3% during the 1st quarter. Pembroke Management LTD now owns 927,129 shares of the company's stock worth $29,446,000 after buying an additional 666,223 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Vertex by 13.0% in the 4th quarter. Vanguard Group Inc. now owns 5,555,808 shares of the company's stock worth $149,673,000 after buying an additional 637,075 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Vertex in the 2nd quarter worth $22,173,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Vertex in the first quarter valued at $12,043,000. Institutional investors and hedge funds own 59.10% of the company's stock.

Insiders Place Their Bets

In other news, Director John Richard Stamm sold 16,000 shares of the firm's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $35.95, for a total transaction of $575,200.00. Following the transaction, the director now directly owns 21,635 shares of the company's stock, valued at approximately $777,778.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John Richard Stamm sold 16,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 directly owns 21,635 shares in the company, valued at $777,778.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $40.77, for a total value of $2,300,202.63. Following the completion of the sale, the insider now owns 932,706 shares of the company's stock, valued at $38,026,423.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,629,244 shares of company stock worth $64,039,589. 44.58% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Baird R W upgraded Vertex to a "strong-buy" rating in a report on Tuesday, July 23rd. JMP Securities lifted their price target on shares of Vertex from $42.00 to $47.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird began coverage on shares of Vertex in a research note on Tuesday, July 23rd. They issued an "outperform" rating and a $43.00 target price on the stock. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.30.

Vertex Stock Up 1.6 %

Shares of VERX traded up $0.66 during midday trading on Friday, hitting $42.17. The company had a trading volume of 367,529 shares, compared to its average volume of 757,769. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.43. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 350.83, a PEG ratio of 12.25 and a beta of 0.68. Vertex, Inc. has a 52 week low of $21.92 and a 52 week high of $43.33. The company's 50 day moving average price is $39.06 and its 200 day moving average price is $35.88.

Vertex (NASDAQ:VERX - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. The company had revenue of $161.10 million for the quarter, compared to analysts' expectations of $160.66 million. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share. On average, equities research analysts predict that Vertex, Inc. will post 0.34 EPS for the current year.

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.