Verdence Capital Advisors LLC Has $392,000 Holdings in Vertex, Inc. (NASDAQ:VERX)

Verdence Capital Advisors LLC lowered its position in shares of Vertex, Inc. (NASDAQ:VERX) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,355 shares of the company’s stock after selling 958 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Vertex were worth $392,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Assetmark Inc. acquired a new stake in shares of Vertex during the fourth quarter valued at approximately $79,000. Victory Capital Management Inc. raised its holdings in shares of Vertex by 26.4% during the fourth quarter. Victory Capital Management Inc. now owns 43,474 shares of the company’s stock valued at $2,319,000 after acquiring an additional 9,088 shares during the period. Westover Capital Advisors LLC raised its holdings in shares of Vertex by 1.2% during the fourth quarter. Westover Capital Advisors LLC now owns 55,427 shares of the company’s stock valued at $2,957,000 after acquiring an additional 632 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Vertex by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,739 shares of the company’s stock valued at $23,407,000 after acquiring an additional 6,671 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in Vertex in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Price Performance

NASDAQ VERX opened at $34.06 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.29. The company has a fifty day simple moving average of $50.84 and a 200 day simple moving average of $46.71. The company has a market cap of $5.31 billion, a P/E ratio of 189.22, a P/E/G 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 posted its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.03). The firm had revenue of $178.46 million for 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, sell-side analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Buying and Selling

In other Vertex news, CEO David Destefano sold 216,268 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $55.04, for a total value of $11,903,390.72. Following the completion of the sale, the chief executive officer now directly owns 293,345 shares of the company’s stock, valued at $16,145,708.80. This represents a 42.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Westphal sold 575,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $53.01, for a total transaction of $30,480,750.00. Following the completion of the sale, the insider now directly owns 7,895 shares of the company’s stock, valued at approximately $418,513.95. This trade represents a 98.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 858,457 shares of company stock valued at $46,160,958. Company insiders own 44.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VERX shares. The Goldman Sachs Group dropped their price objective on shares of Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday. Raymond James reiterated a “market perform” rating on shares of Vertex in a research note on Friday, January 3rd. BMO Capital Markets upped their price objective on shares of Vertex from $42.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and issued a $61.00 price objective on shares of Vertex in a research note on Monday, December 9th. Finally, Jefferies Financial Group dropped their price objective on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Five investment 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 company. According to data from MarketBeat.com, Vertex currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

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.