Vertex, Inc. (NASDAQ:VERX) is Bryn Mawr Capital Management LLC’s 4th Largest Position

Bryn Mawr Capital Management LLC trimmed its holdings in Vertex, Inc. (NASDAQ:VERX) by 38.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,596,000 shares of the company’s stock after selling 1,000,000 shares during the period. Vertex makes up 2.7% of Bryn Mawr Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Bryn Mawr Capital Management LLC’s holdings in Vertex were worth $42,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in VERX. Conestoga Capital Advisors LLC lifted its holdings in shares of Vertex by 19.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,832,620 shares of the company’s stock worth $76,311,000 after acquiring an additional 452,840 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Vertex by 9.5% in the 3rd quarter. Fred Alger Management LLC now owns 4,651,701 shares of the company’s stock worth $107,454,000 after acquiring an additional 404,550 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Vertex by 32.4% during the 3rd quarter. William Blair Investment Management LLC now owns 1,428,008 shares of the company’s stock valued at $32,987,000 after buying an additional 349,683 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in Vertex by 824.0% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 345,257 shares of the company’s stock valued at $9,301,000 after buying an additional 307,892 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Vertex during the 3rd quarter valued at $6,868,000. 59.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on VERX. Citigroup lowered their price target on shares of Vertex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday. The Goldman Sachs Group upped their price target on shares of Vertex from $33.00 to $39.00 and gave the company a “buy” rating in a report on Friday, March 1st. JMP Securities reiterated a “market outperform” rating and set a $42.00 price target on shares of Vertex in a report on Tuesday. Jefferies Financial Group upped their price objective on shares of Vertex from $27.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, BMO Capital Markets upped their price objective on shares of Vertex from $30.00 to $35.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.67.

Vertex Stock Up 0.4 %

NASDAQ:VERX opened at $29.53 on Friday. The firm’s 50-day moving average price is $29.62 and its 200-day moving average price is $27.05. The company has a market capitalization of $4.56 billion, a PE ratio of -295.30, a P/E/G ratio of 7.58 and a beta of 0.62. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.60 and a quick ratio of 0.60. Vertex, Inc. has a 1-year low of $17.59 and a 1-year high of $35.38.

Vertex (NASDAQ:VERX) last released its earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $154.91 million for the quarter, compared to the consensus estimate of $146.44 million. Vertex had a negative net margin of 2.29% and a positive return on equity of 16.15%. On average, equities analysts predict that Vertex, Inc. will post 0.36 EPS for the current fiscal year.

Insider Transactions at Vertex

In other news, major shareholder Jeffrey Westphal sold 791,133 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $30.05, for a total value of $23,773,546.65. Following the sale, the insider now directly owns 1,554,641 shares of the company’s stock, valued at approximately $46,716,962.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Vertex news, insider Item Second Irr. Trust Fbo Ann sold 173,391 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $30.34, for a total transaction of $5,260,682.94. Following the completion of the sale, the insider now directly owns 1,165,074 shares in the company, valued at approximately $35,348,345.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Jeffrey Westphal sold 791,133 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $30.05, for a total transaction of $23,773,546.65. Following the sale, the insider now owns 1,554,641 shares of the company’s stock, valued at $46,716,962.05. The disclosure for this sale can be found here. Insiders have sold 1,161,048 shares of company stock valued at $35,034,678 in the last three months. 45.00% of the stock is currently owned by company insiders.

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.