Vertex, Inc. (NASDAQ:VERX) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,780 shares of the company’s stock after selling 3,095 shares during the quarter. Quantbot Technologies LP’s holdings in Vertex were worth $2,442,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Vertex by 11.4% during the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock worth $134,000 after buying an additional 257 shares during the period. Sheets Smith Wealth Management raised its stake in Vertex by 2.2% in the 4th quarter. Sheets Smith Wealth Management now owns 15,099 shares of the company’s stock valued at $806,000 after purchasing an additional 324 shares during the last quarter. Advisors Asset Management Inc. raised its stake in 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 purchasing an additional 540 shares during the last quarter. KBC Group NV raised its stake in Vertex by 27.1% in the 4th quarter. KBC Group NV now owns 2,668 shares of the company’s stock valued at $142,000 after purchasing an additional 569 shares during the last quarter. Finally, Ellsworth Advisors LLC raised its stake in Vertex by 3.5% in the 4th quarter. Ellsworth Advisors LLC now owns 17,291 shares of the company’s stock valued at $922,000 after purchasing an additional 584 shares during the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

Vertex Stock Performance

NASDAQ VERX opened at $35.71 on Friday. The stock has a market cap of $5.65 billion, a PE ratio of 198.39, a P/E/G ratio of 6.66 and a beta of 0.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. Vertex, Inc. has a twelve month low of $27.22 and a twelve month high of $60.71. The stock has a fifty day simple moving average of $46.33 and a 200-day simple moving average of $46.45.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.03). The business had revenue of $178.46 million for the quarter, compared to analysts’ expectations of $176.90 million. Vertex had a return on equity of 24.92% and a net margin of 4.73%. Equities analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on VERX. DA Davidson reduced their price objective on Vertex from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Stifel Nicolaus downgraded 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. JMP Securities reissued a “market outperform” rating and issued a $61.00 price objective on shares of Vertex in a research note on Monday, December 9th. Raymond James reaffirmed a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. Finally, Morgan Stanley raised their target price on Vertex from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.82.

Insider Activity at Vertex

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 stock was sold at an average price of $56.48, for a total transaction of $3,041,052.64. Following the completion of the transaction, the insider now directly owns 1,229,257 shares in the company, valued at $69,428,435.36. This trade represents a 4.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $35.98, for a total value of $1,555,343.44. Following the transaction, the general counsel now owns 132 shares of the company’s stock, valued at $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 currently owned by company insiders.

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.