Palogic Value Management L.P. Has $5.34 Million Stock Position in Vertex, Inc. (NASDAQ:VERX)

Palogic Value Management L.P. trimmed its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 100,000 shares of the company's stock after selling 25,000 shares during the period. Vertex accounts for 2.1% of Palogic Value Management L.P.'s investment portfolio, making the stock its 6th biggest holding. Palogic Value Management L.P. owned 0.06% of Vertex worth $5,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in shares of Vertex by 126.2% in the third quarter. Advisors Asset Management Inc. now owns 968 shares of the company's stock worth $37,000 after buying an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Vertex during the fourth quarter worth approximately $38,000. Plato Investment Management Ltd bought a new position in shares of Vertex in the 4th quarter valued at about $41,000. Armstrong Advisory Group Inc. bought a new position in Vertex during the 4th quarter worth approximately $50,000. Finally, Assetmark Inc. acquired a new position in Vertex in the fourth quarter valued at about $79,000. Hedge funds and other institutional investors own 70.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Robert W. Baird dropped their price target on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. DA Davidson dropped their price objective on shares of Vertex from $62.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Morgan Stanley boosted their price target on shares of Vertex from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Citigroup lifted their price target on Vertex from $46.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Finally, Raymond James reaffirmed 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.82.

Remove Ads

Vertex Trading Up 0.5 %

Shares of VERX stock traded up $0.19 on Tuesday, reaching $35.54. 1,074,668 shares of the stock were exchanged, compared to its average volume of 960,923. The stock has a market cap of $5.62 billion, a P/E ratio of 197.44, 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. Vertex, Inc. has a 1-year low of $27.22 and a 1-year high of $60.71. The firm has a 50 day moving average of $45.99 and a two-hundred day moving average of $46.52.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results 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). The company had revenue of $178.46 million during the quarter, compared to analyst estimates of $176.90 million. Vertex had a net margin of 4.73% and a return on equity of 24.92%. On average, research analysts anticipate that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex stock in a transaction on Wednesday, January 22nd. The stock was 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 owns 1,229,257 shares of the company's stock, valued at approximately $69,428,435.36. This trade represents a 4.20 % decrease in their ownership of the stock. The transaction 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 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 transaction, the general counsel now directly owns 132 shares in the company, valued at $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. Insiders own 44.58% of the company's stock.

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.