Vertex, Inc. $VERX Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC reduced its stake in Vertex, Inc. by 62.5%, selling 314,938 shares, and now holds approximately 0.12% of the company valued at $6.6 million.
• Vertex has recently posted earnings per share of $0.15, beating estimates and showing a 14.6% year-over-year revenue growth, despite a negative net margin of 7.09%.
• Wall Street analysts have mixed opinions on Vertex, with price targets ranging from $40.00 to $50.00 and a consensus rating of "Moderate Buy."

Axiom Investors LLC DE lessened its position in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 62.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 188,640 shares of the company's stock after selling 314,938 shares during the quarter. Axiom Investors LLC DE owned 0.12% of Vertex worth $6,604,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Conestoga Capital Advisors LLC raised its stake in shares of Vertex by 30.3% in the first quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company's stock worth $103,200,000 after purchasing an additional 686,145 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Vertex by 63.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,429,416 shares of the company's stock worth $85,054,000 after buying an additional 939,031 shares during the last quarter. Geneva Capital Management LLC raised its position in Vertex by 42.1% during the 1st quarter. Geneva Capital Management LLC now owns 2,043,205 shares of the company's stock worth $71,533,000 after buying an additional 605,617 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Vertex by 32.2% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,531,939 shares of the company's stock valued at $53,633,000 after acquiring an additional 373,090 shares during the period. Finally, Aberdeen Group plc boosted its holdings in shares of Vertex by 46.9% in the 1st quarter. Aberdeen Group plc now owns 1,511,846 shares of the company's stock valued at $52,128,000 after acquiring an additional 482,669 shares during the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Item Second Irr. Trust Fbo Ann sold 157,874 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $35.93, for a total value of $5,672,412.82. Following the transaction, the insider owned 196,841 shares in the company, valued at $7,072,497.13. This trade represents a 44.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 405,000 shares of company stock worth $14,786,108 in the last ninety days. Corporate insiders own 43.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. DA Davidson downgraded shares of Vertex from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. The Goldman Sachs Group set a $43.00 price objective on Vertex and gave the company a "buy" rating in a report on Thursday, August 7th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Vertex in a report on Thursday, August 7th. Citigroup raised Vertex from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Finally, JMP Securities set a $50.00 price objective on Vertex and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.69.

Vertex Price Performance

VERX traded down $0.88 during trading on Wednesday, hitting $23.87. The company's stock had a trading volume of 1,385,172 shares, compared to its average volume of 1,347,695. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -72.33, a P/E/G ratio of 5.11 and a beta of 0.67. Vertex, Inc. has a twelve month low of $23.13 and a twelve month high of $60.71. The business's fifty day simple moving average is $29.92 and its 200 day simple moving average is $34.66. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36.

Vertex (NASDAQ:VERX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Vertex had a positive return on equity of 27.16% and a negative net margin of 7.09%.The business had revenue of $184.56 million during the quarter, compared to the consensus estimate of $184.60 million. During the same period in the prior year, the company posted $0.15 EPS. The business's quarterly revenue was up 14.6% on a year-over-year basis. On average, 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.