Scalar Gauge Management LLC Buys New Position in Vertex, Inc. (NASDAQ:VERX)

Scalar Gauge Management LLC purchased a new stake in Vertex, Inc. (NASDAQ:VERX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 220,970 shares of the company's stock, valued at approximately $11,789,000. Vertex makes up 5.4% of Scalar Gauge Management LLC's investment portfolio, making the stock its 8th biggest holding. Scalar Gauge Management LLC owned about 0.14% of Vertex at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VERX. 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 buying an additional 540 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Vertex in the 4th quarter worth about $38,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Vertex in the 4th quarter worth about $40,000. Plato Investment Management Ltd bought a new position in shares of Vertex in the 4th quarter worth about $41,000. Finally, Armstrong Advisory Group Inc. purchased a new position in Vertex during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 70.32% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group cut their price target on Vertex from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus lowered shares of Vertex from a "buy" rating to a "hold" rating and reduced their price objective for the company from $58.00 to $31.00 in a research note on Friday, February 28th. DA Davidson reduced their price target on shares of Vertex from $62.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Vertex in a research report on Thursday, March 20th. Finally, Robert W. Baird reduced their target price on Vertex from $62.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $49.82.

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Insider Buying and Selling at Vertex

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 1,229,257 shares of the company's stock, valued at approximately $69,428,435.36. This represents a 4.20 % decrease in their position. The sale was disclosed in a document filed 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 stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total transaction of $1,555,343.44. Following the completion of the sale, the general counsel now directly owns 132 shares of the company's stock, valued at $4,749.36. This trade represents a 99.70 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 44.58% of the company's stock.

Vertex Price Performance

Shares of NASDAQ:VERX traded down $1.59 during midday trading on Friday, hitting $34.26. The company had a trading volume of 729,031 shares, compared to its average volume of 997,290. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. Vertex, Inc. has a twelve month low of $27.22 and a twelve month high of $60.71. The business's 50-day simple moving average is $42.77 and its 200-day simple moving average is $46.37. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 190.56, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87.

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