3,905 Shares in Vertex, Inc. (NASDAQ:VERX) Bought by Lindenwold Advisors INC

Lindenwold Advisors INC acquired a new position in Vertex, Inc. (NASDAQ:VERX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,905 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds have also recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of Vertex by 11.4% in the 4th quarter. Blue Trust Inc. now owns 2,516 shares of the company’s stock worth $134,000 after acquiring an additional 257 shares in the last quarter. Sheets Smith Wealth Management increased its stake in Vertex by 2.2% in the fourth 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 in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Vertex by 126.2% during the third 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 period. KBC Group NV boosted its position in shares of Vertex by 27.1% during the 4th quarter. KBC Group NV now owns 2,668 shares of the company’s stock worth $142,000 after purchasing an additional 569 shares in the last quarter. Finally, Ellsworth Advisors LLC grew its stake in shares of 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 buying an additional 584 shares during the period. 70.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on VERX shares. Stifel Nicolaus cut 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. The Goldman Sachs Group lowered their price objective on shares of Vertex from $64.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. DA Davidson lowered their price objective on shares of Vertex from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group lowered their price objective on shares of Vertex from $62.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Raymond James restated a “market perform” rating on shares of Vertex in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Insider Activity

In related news, major shareholder Item Second Irr. Trust Fbo Kyl sold 53,843 shares of the company’s 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 sale, the insider now directly owns 1,229,257 shares in the company, valued at approximately $69,428,435.36. This represents a 4.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 44.58% of the company’s stock.

Vertex Stock Performance

Shares of VERX stock opened at $34.65 on Wednesday. The firm has a 50-day moving average of $47.33 and a 200-day moving average of $46.54. The company has a market cap of $5.48 billion, a P/E ratio of 192.50, a P/E/G ratio of 6.66 and a beta of 0.87. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. Vertex, Inc. has a one year low of $27.22 and a one year high of $60.71.

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

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.