Conestoga Capital Advisors LLC Has $87.81 Million Holdings in Vertex, Inc. (NASDAQ:VERX)

Conestoga Capital Advisors LLC lowered its holdings in Vertex, Inc. (NASDAQ:VERX) by 18.7% in the third quarter, HoldingsChannel.com reports. The firm owned 2,280,290 shares of the company’s stock after selling 525,495 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Vertex were worth $87,814,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in shares of Vertex in the second quarter valued at approximately $28,000. Quest Partners LLC bought a new position in shares of Vertex in the second quarter worth $37,000. Canada Pension Plan Investment Board acquired a new position in Vertex in the second quarter valued at about $40,000. Amalgamated Bank bought a new stake in Vertex during the second quarter worth about $68,000. Finally, Sandia Investment Management LP acquired a new stake in Vertex during the first quarter worth about $159,000. Institutional investors and hedge funds own 59.10% of the company’s stock.

Insiders Place Their Bets

In other Vertex news, Director John Richard Stamm sold 16,000 shares of Vertex stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the transaction, the director now owns 21,635 shares of the company’s stock, valued at $777,778.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vertex news, insider Item Second Irr. Trust Fbo Jac sold 56,419 shares of Vertex stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $40.77, for a total value of $2,300,202.63. Following the sale, the insider now owns 932,706 shares of the company’s stock, valued at approximately $38,026,423.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Richard Stamm sold 16,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $35.95, for a total transaction of $575,200.00. Following the transaction, the director now directly owns 21,635 shares of the company’s stock, valued at $777,778.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,629,244 shares of company stock valued at $64,039,589. Corporate insiders own 44.58% of the company’s stock.

Vertex Stock Up 1.4 %

VERX traded up $0.58 during midday trading on Friday, reaching $42.09. 71,765 shares of the company were exchanged, compared to its average volume of 756,373. Vertex, Inc. has a one year low of $21.92 and a one year high of $43.33. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.17. The company’s fifty day moving average price is $39.06 and its 200 day moving average price is $35.88. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 350.83, a price-to-earnings-growth ratio of 12.25 and a beta of 0.68.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Vertex had a return on equity of 22.32% and a net margin of 3.20%. The business had revenue of $161.10 million for the quarter, compared to analysts’ expectations of $160.66 million. During the same period last year, the business earned $0.04 EPS. The business’s revenue was up 15.3% on a year-over-year basis. As a group, analysts expect that Vertex, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

VERX has been the topic of several analyst reports. Robert W. Baird began coverage on shares of Vertex in a research report on Tuesday, July 23rd. They set an “outperform” rating and a $43.00 price target on the stock. Baird R W upgraded Vertex to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, JMP Securities increased their price objective on shares of Vertex from $42.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex has an average rating of “Moderate Buy” and an average target price of $37.30.

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.