Vertex, Inc. (NASDAQ:VERX) Shares Sold by Palogic Value Management L.P.

Palogic Value Management L.P. reduced its stake in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company's stock after selling 25,000 shares during the quarter. Vertex accounts for approximately 0.1% of Palogic Value Management L.P.'s portfolio, making the stock its 8th largest holding. Palogic Value Management L.P. owned 0.06% of Vertex worth $5,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Vertex by 5.4% in the third quarter. Barclays PLC now owns 582,273 shares of the company's stock valued at $22,424,000 after purchasing an additional 29,700 shares during the last quarter. Blue Trust Inc. grew its position in shares of Vertex by 11.4% in the fourth quarter. Blue Trust Inc. now owns 2,516 shares of the company's stock valued at $134,000 after purchasing an additional 257 shares during the last quarter. KBC Group NV grew its position in shares of Vertex by 27.1% in the fourth 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. Precision Wealth Strategies LLC acquired a new stake in shares of Vertex in the fourth quarter valued at approximately $536,000. Finally, abrdn plc grew its position in shares of Vertex by 74.9% in the fourth quarter. abrdn plc now owns 1,029,177 shares of the company's stock valued at $55,035,000 after purchasing an additional 440,832 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the firm's stock in a transaction on 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 approximately $4,749.36. This trade represents a 99.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Destefano sold 109,415 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $37.70, for a total transaction of $4,124,945.50. Following the sale, the chief executive officer now directly owns 1,066,587 shares of the company's stock, valued at approximately $40,210,329.90. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,398 shares of company stock valued at $5,898,979. Company insiders own 44.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. BNP Paribas assumed coverage on shares of Vertex in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $54.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group reduced 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, March 3rd. Finally, Jefferies Financial Group reduced 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. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.73.

Vertex Trading Up 0.6%

NASDAQ:VERX traded up $0.24 during trading hours on Friday, reaching $39.75. 1,322,526 shares of the company were exchanged, compared to its average volume of 1,024,065. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 220.83, a PEG ratio of 6.66 and a beta of 0.78. Vertex, Inc. has a 52-week low of $30.26 and a 52-week high of $60.71. The stock has a 50 day simple moving average of $38.12 and a 200 day simple moving average of $45.37.

Vertex (NASDAQ:VERX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. Vertex had a net margin of 4.73% and a return on equity of 24.92%. The business had revenue of $177.06 million for the quarter, compared to the consensus estimate of $176.99 million. During the same quarter last year, the firm posted $0.15 EPS. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, analysts predict that Vertex, Inc. will post 0.38 EPS for the current 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.