Vertex, Inc. $VERX is Tensile Capital Management LP's Largest Position

Key Points

• Tensile Capital Management LP has reduced its holdings in Vertex, Inc. by 2.9%, now owning 3,660,474 shares which constitutes 16.3% of their portfolio, making Vertex their largest investment.
• Vertex reported $0.15 earnings per share for the latest quarter, exceeding analyst expectations by a small margin, and experienced a 14.6% increase in revenue compared to the same quarter last year.
• Several institutional investors, including Bank of America and Northern Trust Corp, have increased their stakes in Vertex during the last quarter, indicating strong institutional interest.

Tensile Capital Management LP decreased its holdings in shares of Vertex, Inc. (NASDAQ:VERX - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,660,474 shares of the company's stock after selling 109,076 shares during the quarter. Vertex comprises about 16.3% of Tensile Capital Management LP's investment portfolio, making the stock its largest position. Tensile Capital Management LP owned about 2.31% of Vertex worth $128,153,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. D. E. Shaw & Co. Inc. increased its holdings in shares of Vertex by 28.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 54,115 shares of the company's stock worth $2,887,000 after buying an additional 11,966 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Vertex by 3,751.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,087 shares of the company's stock worth $283,000 after buying an additional 7,877 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Vertex by 25.4% during the first quarter. Envestnet Asset Management Inc. now owns 224,762 shares of the company's stock worth $7,869,000 after buying an additional 45,494 shares during the period. Norris Perne & French LLP MI bought a new position in Vertex during the first quarter valued at $8,203,000. Finally, Geneva Capital Management LLC lifted its holdings in shares of Vertex by 42.1% in the 1st quarter. Geneva Capital Management LLC now owns 2,043,205 shares of the company's stock worth $71,533,000 after acquiring an additional 605,617 shares during the last quarter. Institutional investors own 70.32% of the company's stock.

Insider Activity at Vertex

In other news, insider Item Second Irr. Trust Fbo Ann sold 14,425 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $35.24, for a total transaction of $508,337.00. Following the sale, the insider directly owned 173,074 shares of the company's stock, valued at $6,099,127.76. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 405,000 shares of company stock worth $14,786,108 in the last three months. Insiders own 43.25% of the company's stock.

Vertex Stock Down 3.6%

NASDAQ VERX traded down $0.88 on Wednesday, hitting $23.87. The stock had a trading volume of 1,385,172 shares, compared to its average volume of 1,348,667. The business's fifty day moving average price is $30.13 and its 200 day moving average price is $34.73. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -72.33, a price-to-earnings-growth ratio of 5.35 and a beta of 0.67. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.99 and a quick ratio of 0.99. Vertex, Inc. has a 52-week low of $23.13 and a 52-week high of $60.71.

Vertex (NASDAQ:VERX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $184.56 million for the quarter, compared to the consensus estimate of $184.60 million. Vertex had a negative net margin of 7.09% and a positive return on equity of 27.16%. The company's revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. Equities research analysts anticipate that Vertex, Inc. will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VERX shares. Needham & Company LLC reduced their target price on Vertex from $60.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. DA Davidson cut Vertex from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. JMP Securities set a $50.00 target price on Vertex and gave the company a "market outperform" rating in a research report on Thursday, August 7th. Bank of America cut their price target on Vertex from $42.00 to $34.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Vertex in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.69.

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.