Palogic Value Management L.P. Sells 25,000 Shares of Vertex, Inc. (NASDAQ:VERX)

Palogic Value Management L.P. trimmed its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 20.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,000 shares of the company's stock after selling 25,000 shares during the quarter. Vertex comprises about 2.0% of Palogic Value Management L.P.'s investment portfolio, making the stock its 7th largest holding. Palogic Value Management L.P. owned approximately 0.06% of Vertex worth $5,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. grew its position in shares of Vertex by 126.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock worth $37,000 after purchasing an additional 540 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Vertex during the 4th quarter valued at $38,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Vertex during the 4th quarter worth $40,000. Plato Investment Management Ltd bought a new position in shares of Vertex in the fourth quarter worth $41,000. Finally, Armstrong Advisory Group Inc. acquired a new position in Vertex in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 70.32% of the company's stock.

Insider Activity

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm's stock in a transaction dated 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 directly owns 132 shares in the company, valued at $4,749.36. This trade represents a 99.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company'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 value of $3,041,052.64. Following the completion of the sale, the insider now owns 1,229,257 shares in the company, valued at $69,428,435.36. The trade was a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 44.58% of the company's stock.

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Wall Street Analysts Forecast Growth

VERX has been the topic of a number of analyst reports. JMP Securities reiterated a "market outperform" rating and set a $61.00 price objective on shares of Vertex in a research note on Monday, December 9th. Robert W. Baird reduced their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and set a $60.00 price objective on shares of Vertex in a research report on Thursday. Jefferies Financial Group reduced their target price on Vertex from $62.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Raymond James reissued a "market perform" rating on shares of Vertex in a report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $49.82.

Vertex Trading Up 0.7 %

Vertex stock traded up $0.25 during trading hours on Monday, hitting $35.96. The stock had a trading volume of 299,001 shares, compared to its average volume of 957,463. The business's 50 day simple moving average is $46.33 and its 200-day simple moving average is $46.52. Vertex, Inc. has a one year low of $27.22 and a one year high of $60.71. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 199.78, a P/E/G 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.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $176.90 million. On average, equities analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal 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.