Pier Capital LLC Lowers Position in Vertex, Inc. (NASDAQ:VERX)

Pier Capital LLC trimmed its holdings in Vertex, Inc. (NASDAQ:VERX - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,927 shares of the company's stock after selling 75,463 shares during the quarter. Pier Capital LLC owned about 0.10% of Vertex worth $8,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in shares of Vertex by 126.2% during the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock valued at $37,000 after purchasing an additional 540 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Vertex during the 4th quarter valued at approximately $38,000. Plato Investment Management Ltd purchased a new position in Vertex during the fourth quarter valued at $41,000. Armstrong Advisory Group Inc. purchased a new position in Vertex during the fourth quarter valued at $50,000. Finally, Assetmark Inc. purchased a new stake in shares of Vertex in the fourth quarter worth $79,000. 70.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vertex

In other Vertex news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the sale, the insider now owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This trade represents a 4.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the transaction, the general counsel now owns 132 shares of the company's stock, valued at approximately $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.58% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several research firms have recently issued reports on VERX. The Goldman Sachs Group lowered their price target on Vertex from $64.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Citigroup upped their target price on shares of Vertex from $46.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Robert W. Baird reduced their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Morgan Stanley upped their price objective on Vertex from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Finally, Stifel Nicolaus lowered Vertex from a "buy" rating to a "hold" rating and reduced their target price for the stock from $58.00 to $31.00 in a report on Friday, February 28th. Five 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.com, Vertex presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.82.

Vertex Stock Performance

NASDAQ:VERX traded down $0.31 on Friday, hitting $35.55. The stock had a trading volume of 1,226,964 shares, compared to its average volume of 987,945. Vertex, Inc. has a 52-week low of $27.22 and a 52-week high of $60.71. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 197.50, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87. 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 business's 50-day simple moving average is $44.43 and its two-hundred day simple moving average is $46.44.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business had revenue of $178.46 million for the quarter, compared to the consensus estimate of $176.90 million. As a group, research analysts predict that Vertex, Inc. will post 0.38 earnings per share for the current 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.