Vertex, Inc. (NASDAQ:VERX) is Palogic Value Management L.P.'s 7th Largest Position

Palogic Value Management L.P. cut its position in Vertex, Inc. (NASDAQ:VERX - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company's stock after selling 25,000 shares during the period. Vertex comprises 2.0% of Palogic Value Management L.P.'s 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 reporting period.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in Vertex by 406.9% in the 3rd quarter. Victory Capital Management Inc. now owns 34,386 shares of the company's stock worth $1,324,000 after buying an additional 27,602 shares in the last quarter. KBC Group NV raised its stake in Vertex by 46.1% during the 3rd quarter. KBC Group NV now owns 2,099 shares of the company's stock valued at $81,000 after purchasing an additional 662 shares during the period. Quest Partners LLC raised its stake in Vertex by 344.5% during the 3rd quarter. Quest Partners LLC now owns 4,529 shares of the company's stock valued at $174,000 after purchasing an additional 3,510 shares during the period. Jennison Associates LLC lifted its holdings in Vertex by 36.0% in the 3rd quarter. Jennison Associates LLC now owns 469,526 shares of the company's stock worth $18,081,000 after purchasing an additional 124,169 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Vertex by 126.2% in 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 during the period. Hedge funds and other institutional investors own 70.32% of the company's stock.

Vertex Trading Up 0.5 %

Shares of Vertex stock traded up $0.19 during trading on Tuesday, hitting $35.54. The stock had a trading volume of 1,074,668 shares, compared to its average volume of 962,834. Vertex, Inc. has a 12 month low of $27.22 and a 12 month high of $60.71. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The firm's fifty day simple moving average is $45.64 and its 200-day simple moving average is $46.52. The stock has a market cap of $5.62 billion, a PE ratio of 197.44, a PEG ratio of 6.66 and a beta of 0.87.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $178.46 million during the quarter, compared to the consensus estimate of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. As a group, sell-side analysts expect that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 1,229,257 shares of the company's stock, valued at $69,428,435.36. This trade represents a 4.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction dated 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 approximately $4,749.36. This trade represents 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VERX. DA Davidson lowered their target price on shares of Vertex from $62.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Raymond James reissued a "market perform" rating on shares of Vertex in a report on Friday, January 3rd. Robert W. Baird reduced their target price on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Citigroup increased their price target on Vertex from $46.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $61.00 price objective on shares of Vertex in a research note on Monday, December 9th. Five 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $49.82.

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.