Vertex, Inc. (NASDAQ:VERX) is Tensile Capital Management LP's Largest Position

Tensile Capital Management LP decreased its position in Vertex, Inc. (NASDAQ:VERX - Free Report) by 7.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,769,550 shares of the company's stock after selling 284,000 shares during the period. Vertex comprises approximately 20.9% of Tensile Capital Management LP's portfolio, making the stock its biggest holding. Tensile Capital Management LP owned 2.42% of Vertex worth $201,105,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Vertex by 342.5% in the 4th quarter. Invesco Ltd. now owns 1,513,660 shares of the company's stock worth $80,754,000 after buying an additional 1,171,576 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Vertex during the fourth quarter worth about $61,825,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Vertex by 233.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 851,127 shares of the company's stock valued at $45,409,000 after purchasing an additional 596,077 shares in the last quarter. FMR LLC grew its position in shares of Vertex by 25.4% in the fourth quarter. FMR LLC now owns 2,868,438 shares of the company's stock valued at $153,031,000 after purchasing an additional 580,664 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Vertex by 1,100.4% during the 4th quarter. Principal Financial Group Inc. now owns 572,245 shares of the company's stock worth $30,530,000 after purchasing an additional 524,572 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company's stock.

Insider Activity at Vertex

In related news, CAO Ryan J. Leib sold 5,755 shares of Vertex stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $38.00, for a total transaction of $218,690.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Destefano sold 109,415 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $37.70, for a total value of $4,124,945.50. Following the transaction, the chief executive officer now directly owns 1,066,587 shares in the company, valued at $40,210,329.90. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,398 shares of company stock worth $5,898,979. 44.58% of the stock is owned by company insiders.

Vertex Trading Down 1.3%

Vertex stock traded down $0.51 during trading on Friday, hitting $38.54. The company's stock had a trading volume of 211,220 shares, compared to its average volume of 1,016,906. The stock's fifty day moving average is $37.72 and its 200 day moving average is $45.86. Vertex, Inc. has a 1-year low of $30.26 and a 1-year high of $60.71. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 214.22, a P/E/G ratio of 6.66 and a beta of 0.78. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $176.99 million. During the same quarter in the prior year, the company posted $0.15 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts predict that Vertex, Inc. will post 0.38 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VERX shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $60.00 target price on shares of Vertex in a research note on Thursday, March 20th. DA Davidson reduced their price objective on Vertex from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus lowered Vertex from a "buy" rating to a "hold" rating and decreased their price objective for the company from $58.00 to $31.00 in a research note on Friday, February 28th. Jefferies Financial Group cut their target price on shares of Vertex from $62.00 to $48.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Morgan Stanley reduced their target price on shares of Vertex from $60.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Vertex presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.73.

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.