TimesSquare Capital Management LLC Has $52.96 Million Stock Holdings in Vertex, Inc. (NASDAQ:VERX)

TimesSquare Capital Management LLC cut its position in Vertex, Inc. (NASDAQ:VERX) by 40.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 992,657 shares of the company’s stock after selling 662,743 shares during the period. TimesSquare Capital Management LLC’s holdings in Vertex were worth $52,958,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in VERX. Advisors Asset Management Inc. grew its stake in shares of Vertex by 126.2% in the 3rd 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. Armstrong Advisory Group Inc. acquired a new stake in shares of Vertex in the 4th quarter valued at about $50,000. Blue Trust Inc. grew its stake in shares of Vertex by 191.1% in the 3rd quarter. Blue Trust Inc. now owns 2,259 shares of the company’s stock valued at $81,000 after buying an additional 1,483 shares during the period. KBC Group NV grew its stake in shares of Vertex by 46.1% in the 3rd quarter. KBC Group NV now owns 2,099 shares of the company’s stock valued at $81,000 after buying an additional 662 shares during the period. Finally, Quest Partners LLC grew its stake in shares of Vertex by 344.5% in the 3rd quarter. Quest Partners LLC now owns 4,529 shares of the company’s stock valued at $174,000 after buying an additional 3,510 shares during the period. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Vertex Price Performance

Vertex stock opened at $47.62 on Wednesday. Vertex, Inc. has a 52 week low of $24.17 and a 52 week high of $60.71. The company’s 50 day moving average price is $54.19 and its two-hundred day moving average price is $46.48. 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 stock has a market cap of $7.43 billion, a P/E ratio of 264.56, a P/E/G ratio of 6.82 and a beta of 0.78.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. DA Davidson initiated coverage on Vertex in a research note on Tuesday, December 31st. They issued a “buy” rating and a $62.00 target price for the company. Needham & Company LLC lifted their price target on Vertex from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Raymond James reiterated a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. BMO Capital Markets lifted their price target on Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on Vertex from $43.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex presently has a consensus rating of “Moderate Buy” and an average target price of $55.36.

Insiders Place Their Bets

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of Vertex 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 sale, the insider now owns 1,229,257 shares of the company’s stock, valued at approximately $69,428,435.36. The trade was a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Richard Stamm sold 2,500 shares of Vertex stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $53.81, for a total transaction of $134,525.00. Following the completion of the sale, the director now directly owns 15,535 shares in the company, valued at $835,938.35. This trade represents a 13.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 889,584 shares of company stock valued at $47,871,490 in the last 90 days. 44.58% of the stock is currently owned by corporate insiders.

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.