Vertex, Inc. (NASDAQ:VERX) Position Reduced by Palogic Value Management L.P.

Palogic Value Management L.P. trimmed its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing 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 about 2.0% of Palogic Value Management L.P.’s portfolio, making the stock its 7th largest position. Palogic Value Management L.P. owned approximately 0.06% of Vertex worth $5,335,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its holdings 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 acquiring an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Vertex during the 4th quarter worth approximately $38,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Vertex in the 4th quarter worth $40,000. Plato Investment Management Ltd purchased a new position in Vertex during the fourth quarter worth about $41,000. Finally, Armstrong Advisory Group Inc. purchased a new position in Vertex in the fourth quarter worth approximately $50,000. 70.32% of the stock is owned by institutional investors.

Insider Buying and Selling at Vertex

In other 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 transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 44.58% of the company’s stock.

Vertex Trading Down 0.8 %

Vertex stock opened at $36.16 on Friday. The firm’s 50 day moving average price is $46.66 and its two-hundred day moving average price is $46.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 200.89, a price-to-earnings-growth ratio of 6.66 and a beta of 0.87. Vertex, Inc. has a 1 year low of $27.22 and a 1 year high of $60.71.

Vertex (NASDAQ:VERX) 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). The business 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%. On average, research analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VERX. 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 research note on Thursday. JMP Securities reissued a “market outperform” rating and issued a $61.00 target price on shares of Vertex in a report on Monday, December 9th. Robert W. Baird decreased their price objective on Vertex from $62.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus cut 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. Finally, DA Davidson decreased their target price on Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.82.

Vertex Company 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.